When Do You Need An Asset Search Specialist?

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When Do You Need An Asset Search Specialist?

You won your lawsuit and are floored when the court officers did not force the defendant to settle on the spot.

Are you currently planning to initiate a law suit?

Would not it be nice to know if the other party has any assets or possessions available to settle your claim?

Asset search specialists can help you make that decision. They can conduct skip traces and locating property, even those that have been hidden; including boats, planes, property (real and personal), and place(s) of employment, businesses and more. Their goal is to provide you the information necessary to collect your judgment.

The best asset search firms are motivated to locate assets and to provide you quality, and timely data required to collect your judgment, or to recover your possessions as quickly and inexpensively as possible.

When selecting an asset search specialist, remember you get what you pay for. Some cheaper firms routinely sell old, out of date information that will put you at a major disadvantage when it comes time to make the critical decision to move forward on a lawsuit. Look for a firm that does not provide this level of service if need to know the truth before you waste valuable time and money chasing an uncollectable debtor.

Who hires asset search specialists to conduct an asset search? Debt collectors, judgment recovery specialists, collection agencies, skip tracers, attorneys and individuals looking to collect judgments against individuals and businesses. For the work they do, these people can not tolerate outdated or inaccurate information when trying to locate assets and collect judgments. Can you?

Unfortunate stories come up every day. For example, Amy and Tom used to be boyfriend and girlfriend. She loaned him $9,000 to buy a used car. Soon after, they broke up, and now Tom refuses to pay her back. She went to court and sued. Tom claims he has no money or assets to pay Amy back.

Randy rented a place at Tower Oaks Apartments, and left a deposit of $1,950 with the manager. When Randy moved out the manager refused to give him his deposit back. The manager said the apartment required painting and other work. Randy knew the apartment was in good shape, and went to court. He sued the corporation that owned the apartments. They still refused to pay!

Betty owns a consignment store that sells household items on consignment. Kelly needs money, so he brings in his grandmothers silver dinnerware for Betty to sell. After 6 months, Betty still has not sold it, so Kelly goes to the store and asks for the dinnerware set back. Betty is unable to find it; Kelly is upset. Kelly has Betty served for a $5,000 claim in small claims court. Betty does not show up in court, and then disappears. Her store is now closed.

These are 3 situations that have occurred. Your story will not be exactly the same since each case is different. However, they do show that your case is not completely unique. What is the same in every case is the simple objective of every judgment collection, namely: Perform an asset search and legally seize the located property!