Asset tracing in the UK

Asset tracing in the UK is an increasingly important process in the recovery of debts. Too many people are going gung-ho against their debtors, issuing proceedings, taking them to court and obtaining judgments – because that’s the easy part.

What about enforcement? Enforcement is when you make the defendant pay the amount stipulated in the judgment. But what if the defendant is bankrupt or insolvent? If there’s no cash, where is the money coming from?

UK Asset Tracing

If the defendant has no cash, you need to look at their assets. But a person’s assets will not always be immediately apparent. This is where asset tracing comes in. Here at Global Investigations, we specialise in asset tracing. This is so that claimants have a full and complete picture of their debtors, how much they are worth, and how much they can afford to pay. If a debtor has enough money in assets, these assets can be seized and sold at auction in order to settle the debt.

What does asset tracing in the UK involve? A variety of investigative methods, including searches and asset tracking software, are used to trace assets in the UK and internationally. Searches look at stocks and shares, vehicle and marine purchases, businesses, undeclared and offshore bank accounts and property owned in the UK and overseas.

What about hidden assets?

Asset tracing in the UK can also be used to find hidden assets. It’s increasingly common for reluctant debtors to try and protect their assets by trying them up in other companies or shipping them abroad. But with Global Investigations, they won’t stay hidden for long. We can use sophisticated software and techniques to track and trace hidden assets in the UK and overseas.

When should UK asset tracing be carried out?

If you have any doubts about your debtor’s ability to repay the debt, the best course of action is to initiate the asset tracing process before you make a claim through the courts. That way you can find out if your debtor is worth going after, and if so, the fee you pay to the private investigator can be added to the debt. If you wait until after you’ve obtained judgment, you might find that your debtor has very little in the way of assets and not enough money to settle the debt. In this case, you’ve wasted a lot of money bringing the proceedings.

Global Investigations can provide you a clear and complete picture of your debtor, giving you full confidence when you decide to initiate court proceedings that you will be able to recover your debt. For more information on how we can help with asset tracing in the UK, call us free on 0800 073 3555, or from mobiles on 0208 287 7770.

 

See also: Tracing in the UKTracing Overseas > Business and Volume Tracing > Tracing Heirs > Tracing People in the UK

 

Wealth & Finance
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