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Research recently collected by RealtyTrac Year-End 2009 Foreclosure Market Report indicates that 3,957,643 foreclosure filings were reported on 2,824,674 United States properties in 2009. Included in this research was scheduled foreclosure auctions, default notices and bank repossessions.

All told, that is a twenty one percent increase in properties from numbers in the information collected in 2008, and a one hundred and twenty percent increase in total properties from 2007. The report additionally showed us that one in forty five housing units, 2.21 percent, had at least one foreclosure filing during 2009, up from 2008′s 1.48 percent and 2007′s 1.03 percent.

In the month of just December, foreclosure filings measured out to 349,519 properties in December. This marks a fourteen percent jump from the last month of November and a fifteen percent increase from 2008. However, even though there was an increase in December, foreclosure activity in the fourth quarter of 2008 has decreased by seven percent.

Of all of the Amercian states, Nevada has the nation’s highest state foreclosure rate; more than ten percent of housing units obtained at least one foreclosure filing in 2009. This marks Nevada’s third consecutive year at the top of the foreclosure list. Nevada’s foreclosure activity in December has grown twenty seven percent from the previous month, but still was down by twenty two percent from December of 08.

Arizona claimed the nation’s second highest state foreclosure rate in 2009 with more than six percent of properties receiving at least one foreclosure filing during 2009, and Florida claimed the nation’s third highest foreclosure rate at 5.93 percent of its properties getting at least one foreclosure during the filing year.

This raises things to think about in the debt collection industry. Trends that have recently been noted that debtors are maxing out their credit debt and low balling their assets to receive lower payment plans. The fact that they are maxing out their credit cards to receive lower payment plans does not look promising.

Mallory Megan is employed by a debt collection company. Also she composes stories on business, finance, consumer spending and collection agencies. This article, Foreclosures On The Increase is released under a creative commons attribution licence.

Being able to locate a debtor’s bank account can be quite useful in your attempt to collect. By law, it is necessary that a private, licensed investigator to do the work. You should always be wary when you hire someone to locate bank account numbers as there are a great deal of scam companies claiming that they can help, and take your money with no activity in return.

Down Below are legal and legitimate ways to obtain a debtor’s bank account number.

If your debtor is employed by a retail store purchase something from the debtor and pay by check. This is a great technique that you can use to find out account information by looking at your own bank statement; the bank account information will allow you to determine the debtors account number.

Interacting with a previous landlord of the debtor can be quite helpful. Ask his formal landlord if you can look at the rental application and obtain financial information. You can also subpoena the old land lord for a copy of the rental application to see where the defendant banked. Because old habits die hard, it is likely that the debtor still uses the same bank account.

Consider serving a Business Record Subpoena on the employer in order to obtain a copy of a payroll check the debtor has cashed in. The check should have the defendant’s account number and possibly the name of the bank on the bank.

In addition, there are a few “colorful” ways to acquire information about a debtor’s bank account. Conduct a trash search. This is an simple way to obtain bank information and a way to get to know more than you ever wanted about this debtor.

A very elaborate ploy to get the skinny on your debtor’s bank account is what I like to call “the fake block party.” Send post cards to anyway who lives on the debtor’s block, and put up signs directing traffic towards his house. The debtor may get block party fever and open his garage. Scope out his items and take inventory. He may even start to sell things. At this point, purchase something and hand them a check.

Viola! All of these plots are legal, but my advice would be to root through a debtor’s trash and stage a block party last, because that seems kind of crazy.

Mallory McGuinness works for a debt collection agency. Also, she composes articles on business and finance, the credit industry, and debt collection. Get a totally unique version of this article from our article submission service