Is Debtor Tracing Worth the Effort?

As a landlord or creditor, one of the most frustrating and stressful experiences you may face is chasing someone who owes you money. While some debtors are willing to sort out their debts in a timely manner, others can be very difficult to track down.

That’s where the process of debtor tracing comes in. Debtor tracing is the process of identifying and locating an individual who has skipped out on their payments. Examples would be a tenant that has left without paying overdue rent, a personal debt that is owed, or an outstanding loan where payments have lapsed.

Debtor tracing is an effective way to recover a debt, but is it worth the cost? In this blog post, we’ll examine the pros and cons of debtor tracing to help you decide whether it’s worth the effort, so you can make an informed decision based on your own scenario.


Pros of Debtor Tracing

The biggest advantage of hiring professional tracing agents is that your likelihood of success is much higher. From a debtor’s perspective, having a company chase them for an outstanding debt is also a more formidable prospect, than an individual like a landlord.   

A debtor tracing service, such as Vilcol, has the modern technology, contacts and access, as well as the experience, to successfully trace debtors. Other benefits include:


Debtor Tracing is Accurate and Efficient

Debtor tracing agents have access to a vast range of databases and resources that make their work extremely accurate and efficient. We use tools such as credit checks, social media, and phone directories to identify and locate debtors easily.

We have access to resources the general public normally does not, which means we are able to gather more information, and more importantly gather more accurate information.


You have a better chance of getting your money back, and faster

Debtor tracing may involve a fee, but the money spent is a worthy investment, as it ensures that you have the best chance of getting your money back. Once the debtor is located, you can take the necessary legal measures to ensure they pay back their debt in full, and in a timely manner.  


Debtor Tracing Saves You Time and Stress

Instead of wasting your time and energy chasing after debtors, you can outsource this task to a professional debtor tracing company, allowing you to focus on other important aspects of your business or life.

Tracing debtors can be incredibly stressful and emotionally taxing, and can take up a lot of your valuable time. This is even more frustrating if your search efforts prove to be fruitless. This is why we recommend asking a trusted debtor tracing service, to help locate your debtor for you.


Cons of Debtor Tracing

Cost of Service

One of the main disadvantages of debtor tracing is the cost. The fees can be increase depending on your circumstances. But, without the debtor found and debt paid, it is unlikely you will receive anything. Of course, it’s important to weigh the cost of getting your owed debt back against the fees of investigation.

When dealing with our debt recovery clients, we will discuss every situation in detail, and discuss all upfront costs before proceeding. We are fully transparent and will tell you if tracing your debtor is worth the effort.  Our debtor tracing services are backed by proven expertise and years of success, so it is a worthy investment for getting your money back. Remember that normally fees are invoiced on a success only basis. If the debtor is not found you should not be charged.


The Process May Take a While

Debtor tracing is not an exact science and can take weeks. It involves a vigorous research and investigation, and it may take some time to locate the debtor.

Do not expect an overnight result. That being said, Vilcol does boast an efficient and speedy debt recovery process, so depending on your situation you might not have to wait that long. From experience, most cases can be revolved at the initial contact stage. Many debtors begin to understand the seriousness of their situation once contacted by a debt recovery agent. Shining this more serious light onto their situation, many debtors realise it could impact their future financial situation and contact us to arrange a repayment.   


The Debtor Might Not Have the Money

Even if you locate the debtor, there's still a chance that they may not have the money to pay you back. In this situation, you may have to consider other legal measures to recover your money. Even so, by investing in debtor tracing, you are able to start the process of regaining the money owed. Payment plans are an option.


If you need to trace your debtor do not hesitate to get in touch! We have the tools, expertise and experience to quickly and efficiently locate your missing debtor and get your money back.

Chasing a debtor, like an absconded tenant who owes you money, can be a frustrating and stressful process, but a professional debtor tracing service can make the process much easier. While debtor tracing may come at a small cost, it's worth investing in, as it ensures you get your money back in the long run.

The process is accurate, efficient, and saves you time and stress. If you're a landlord or creditor, consider the pros and cons of debtor tracing to determine whether it's worth the effort. We will ensure to work hard to get you the debt owed.