We all know that most Americans with any type of debt often display hostility towards the debt collection industry. However, it is an industry that continues to grow. Collections encompasses more vertical markets than most including Healthcare (one of the biggest), mortgage lending, credit card debt, and auto finance to name a few.
As of 2018 more than 30 million Americans have at least one debt in collections. This makes the need for debt collection services, whether it’s a third-party service or you’re doing it in-house, big business.
Finding your debtors current whereabouts is often the first step in the collection process.
Your entire collections process often hinges on your ability to successfully locate people. Here at Searchbug, we’ve worked with the collection industry for more than 20 years. Even the California Franchise Tax Board listed us as a Collections Reference in their 7/30/2018 collection Procedure Manual.