04/29/2009: "Rescession PI ???"
What does the recession mean for private investigators? Well, unlike a lot of other businesses the work doesn’t really just end. Instead, it changes from being mostly “nice” work helping clients find missing family members and you end up doing a lot more debt collection work.
Luckily there still seems to be a lot of people willing to pay to have their lost friends and family found at the moment despite the horror stories you hear on the TV. I can’t deny that I’ve seen private client work slow down a bit and debt collection work pick up.
It’s important to point out here that most of my debt collection work is for small businesses, not for the faceless corporations repossessing people’s badly funded houses. My heart goes out to these people and the small business owner. When someone is short for cash they do not miss paying the Sky TV bill , or use the car less or not go to the movies. If they can, a lot of people would rather slide on paying the small business man. It’s like your boss turned up and said “thanks for the work this month, I’ll get the money to you” and then never paid despite promising they would every time you met them. That’s what the small business owner has to face in abundance in the recession.
I don’t do the collection of the debt, most of my clients try to do that themselves or hire it out to professional debt collectors. I am very good at searching for people though.