Has the Auto Finance Skip Tracing business gone the way of the Auto Repo business?
It's brutal out there.
We always relied on Lenders making bad loans and then not doing a very good job on finding their skips, but that's changed. The gravy is gone.
Skip Companies- If you are not working in an environment where you can measure and manage your business every minute of every day, you can fail. If you fail, your clients fail, but I guess that doesn't really matter to you cause you failed.
Are Lenders looking as closely as they can at what Skip companies they hire; I doubt it. Can their Skip Companies go toes up, damn straight they can, and trust me, they will.
Attn Lenders: Please start lending money, and please start taking some risk, and please take a closer look at who you do business with. If your Skip Company has lost four of its five biggest clients in the past few months, there is a problem. If you google your skip companies name followed by the word "LAWSUIT" and there is more than one page of results, you are a sitting duck.
C'mon, there are people out there who need loans and you are all overstaffed and you can handle it. You may need masterQueue to help organize your collection department, but you know your people's Queue sizes are way down, and you have the people to handle the deals, so dont wait for the paper buyers to tell you its coming, force the issue, tell them you can handle it.
Of course, come of those skips will fall through the cracks, but you will make so much off the deals that pay you know that it wont matter, and our industry needs some bread crumbs.
EVERYONE will win.