Delinquent borrower who moves without leaving a forwarding address. Lenders hire professional collectors, known as skip tracers, to locate a skip and try to collect the amount owed or extract a promise to pay.
| Banking Dictionary: Skip Account |
Delinquent borrower who moves without leaving a forwarding address. Lenders hire professional collectors, known as skip tracers, to locate a skip and try to collect the amount owed or extract a promise to pay.
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![]() | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |