If you want to be successful in your collection efforts, it all begins with your credit application. Most applications for credit include the borrower’s address, where the borrower owns property, employment and banking information. But, is this enough?
A secret weapon that many creditors do not take advantage of is requesting the borrower’s email address. Why is this important? It may seem worthless because if a borrower isn’t answering your letters or telephone calls, wouldn’t they simply delete emails from you? Using email to contact the borrower isn’t the point. An email address is as close as a digital footprint as there is online. Get this information before extending credit.
Almost everyone has a Facebook, LinkedIn, or other social media account. When you search for a borrower’s name, you may get hundreds of false hits. However, when you run a search with a specific email address, you are sure to find the correct person!
Once you find a person’s social media website, you will discover a lot of helpful information. If the person has changed jobs since they completed the credit application, they may have listed their new employment information. They may also make comments or give other hints on how your process server can locate them.
Adding one simple line to a credit application can allow you to discover a wealth of information about your borrower. While people may change their address, job, or telephone number, they typically keep their email address active.
The attorneys at Windtberg & Zdancewicz, PLC, provide clients with experienced legal representation. We handle many types of business disputes on behalf of both creditors and debtors. Our attorneys handle cases from pre-litigation negotiations through litigation, obtaining and enforcing judgments to collect what our clients are owed. We are experienced in creditor’s rights including garnishments, charging orders, attachment, property execution, trustee’s sales, foreclosures, judgments, judgment collection, domestication of foreign judgments, and creditor’s issues in bankruptcy cases. If you need assistance, or are interested in learning more, please contact us at (480) 584-5660.