how efficient are debt collection agencies?

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- sally
  
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posted
19 years ago

Thu, Nov 4, 2004 4:08 PM

Just read something on a debt advice website that made me wonder:

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953 The adviser claims that debt collection agencies manage to trace people 95% of the time, even if they've gone abroad, and that once they decide to trace someone, it only takes about 4 weeks.

I find it a bit hard to believe that they're _that_ efficient at tracing people - does anyone here think this is an accurate pictue?

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- Martin Davies
  
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posted
19 years ago

Thu, Nov 4, 2004 4:13 PM

They might be good at tracing people. Not always the correct people or current address though. I've had experience of debt collection agencies chasing the former owner of my house. They kept chasing him at my address for 4 years after he left. They don't seem to have a massive amount of luck getting money off people even when they do find them.

Martin <

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- Alex Heney
  
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posted
19 years ago

Thu, Nov 4, 2004 10:19 PM

I would be absolutely shocked if the percentage was any less than that.

I'm rather surprised it is that low.

Most of the people they are after will not be taking any active steps to avoid being traced, and I would expect virtually 100% success in those cases.