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Some “Creative” Ways A Collection Agency May Find A Debtor’s Bank Account Information Part One

I work for a debt collection agency, and therefore, am always searching for new things to write about this enthralling subject. One interesting article I dug up was on legal ways to locate information on debtor’s bank accounts. Of course, being able to find a debtor’s bank account can be rather helpful in your attempts to collect money.

Legally, a private investigator who is liscensed must do the work, and you should always be very cautious when you hire somebody to find bank account numbers seeing as there are a number of scam businesses claiming to do just that, and instead, taking the money while doing nothing in return.

But what if you are a “hands on” kind of collection agency? That’s where the article came in. It listed what it thought were some great ideas on finding your debtor’s bank account, but some of these just seemed crazy. But for your reading pleasure, here is a summary of them all.

1. The old “I give you my checking information you give me your checking information” scheme: If your debtor works at a retail store, purchase something from the person in debt and pay with a check. This is an excellent way to determine what the account information is, because by looking at your own bank statement, you will be able to locate the debtor’s account number.

2. The “old landlady” trick: speaking with a landlady or landlord that a debtor used to have can be very helpful. See if the landlady will tell you his bank account information, or you can subpoena the former landlord for a copy of the rental application to see where the defendant banked. It is likely that the debtor uses the same bank account. (Editor’s note: Don’t ask me why a debtor’s formal landlady would voluntarily offer a former tenant’s bank account information to a random person!!!) To Be Continued In Part Two….

Mallory Megan works for Rapid Recovery Solution and writes about medical collection agencies. Check here for free reprint licence: Some “Creative” Ways A Collection Agency May Find A Debtor’s Bank Account Information Part One.