How Debtor Tracing Can Help Locate Your Missing Debtor
This article will discuss how to locate your missing debtor with some handy tips and advice on debtor tracing & debtor tracing services. If someone owes you money, it can be very frustrating if they suddenly drop off the radar and are nowhere to be found.
The Problem Of Trying To Locate A Debtor In The UK
If you’ve ever tried to locate a debtor in the UK, you’ll no doubt have realized just how challenging it can be. Unfortunately, trying to find a debtor is different from trying to find any other individual since debtors are often deliberately evading any attempt to trace them. It’s no wonder, then, that it can be so difficult to trace a debtor’s address.
There are numerous strategies that debtors use to evade being tracked. These include going off-grid or denying that they are the subject when questioned at the door. Frequently, debtors will try to put any application that they make into their partner’s name so they can avoid being detected by any debt recovery authorities.
This makes it much harder for you to track them down and refer them to a debt collection agency. Even if you do manage to track them down, you may often face another hurdle since the subject debtor will often deny their identity on the doorstep when questioned. This makes it even more difficult to recover the missing sums.
Using A Debt Tracing Service
Although it can be very challenging to find a missing debtor yourself, a debt tracing company like Find UK People has the necessary skills and strategies to find them. Even if the subject debtor has gone off-grid in an attempt to avoid debt recovery, an expert debtor tracing agent can use special tracing software in order to get around evasion of this type.
By employing specialist strategies, experienced debtor tracing agents can locate a debtor’s correct current address, then confirm it with a number of live data sets that are extremely accurate.
Should the subject debtor then attempt to deny their identity when questioned at their home address, experienced debt tracing agents have other strategies that they can employ to get around this problem. They can see any recent credit applications or other applications in the name of the subject at the address supplied as well as the name of the person who pays the telephone bill as well as whether the line remains active.
Using Credit Agency Data To locate your missing debtor
As a private individual, you cannot access credit reference agency data in order to locate a debtor. However, experienced debt tracing agents are able to find a debtor using CRA data. This information shows the link between the debtor’s old address and their current one that has been established by the subject debtor either making a new application for credit at their new address or by them informing their bank or other financial institution about the address at which they are now living.
As soon as the debt tracing agent establishes the debtor’s new address through the credit reference agency check, they can verify the address that has been supplied through a different source, such as a BT data feed that shows that the new address’s telephone line is in the name of the subject debtor.
As you can see from the above example of how the debt tracing process works, tracing agents have a wealth of tools at their disposal to find a debtor in the UK no matter how they try to evade debt collection. Thanks to the accurate methodology that debt tracing agencies use and the robust processes that they employ, they’re a highly efficient and effective way to find a debtor anywhere in the country or even further afield.
What Kind Of Information Is Needed For Debtor Tracing?
There are some useful pieces of information that a debtor tracing agency will find extremely helpful when it comes to debtor tracing. For example, some of the details that they may require to include:
- Confirmation of the full name of the debtor include any middle name
- Confirmation of the name of the debtor’s partner
- The last known address at which the debtor was residing
- The debtor’s full date of birth
- Any other addresses that the debtor has lived at
- The telephone numbers of the debtor, even if they are now disconnected including their mobile number
- The email address of the debtor
- Work details for the debtor
- The business or personal website of the debtor
When the debt tracing agency has the above information about the debtor’s identity, they can quickly get to work locating the current address for the debtor. Once they have done this, you will be able to proceed in sending a letter before action, then taking litigation action should it be appropriate.
Even if you don’t have all of the information above at your disposal, it’s often still possible to find a debtor. If you choose a no trace no fee debtor tracing service such as that provided by Find UK People, you’ve got absolutely nothing to lose.
Finding Out A Debtor’s Financial Status
Another helpful thing that a debtor tracing agency can do that you cannot do yourself as a private individual is to find out the debtor’s financial status. This will let you know all of the debtor’s current liabilities and assets. In any debt collection case, this kind of information is absolutely vital since it identifies whether they have any high-value assets. This makes it easier for the enforcement agent that you then appoint to use that asset as a form of leverage so you can recover your outstanding debts.
Another reason why it’s helpful to have some up-to-date financial background details before you begin the debt collection process is to save yourself court fees and other costs should the debtor have no available assets with which to pay back to debt at the present time.
In such cases, it’s often better to wait for a while until the debtor has begun to re-establish themselves instead of chasing them for money that they don’t have right now. You can wait for as long as six years after the debt was established to issue proceedings and then a further six years after the awarding of a judgment within which to enforce it. This means that there’s no rush in the short term.
What Happens After A Debtor Has Been Traced?
When the debtor tracing agent has traced your debtor to their new address, they supply you with a report. This report will show you all the sources of information that have been used to find the debtor and their current address so you can feel completely confident in the result of the trace. The report also includes the credit agency information including linked addresses. This data may have come from one or more of the UK’s credit agencies including:
Once you have the report, it’s recommended that you use an expert process server for the next step – verifying the subject debtor really lives at the address supplied in the report and also that they are served with the legal notices or documentation. This is especially important of the debt case is of high value.
Why Use Find UK People for Debtor Tracing?
If you’ve ever tried to locate your missing debtor on your own, you’ll be all too aware that it isn’t a simple process. As a private individual, you simply cannot access the data that you need to find the address information you’re seeking. This is why using a specialist debtor tracing service like the service from Find UK People is paramount.
Tracing debtors require highly specialized tracing techniques that are more forensic, digging into data sets that only specialist debtor tracing agencies like Find UK People can access. This allows us to dig deeply into the trace a debtor has left behind and, on the majority of occasions, yield positive results in tracing UK debtors.
There are several debtor tracing agencies out there today, however, we believe that here at Find UK People we offer a truly exemplary service. Our service is efficient, compliant, and rapid, making it the perfect solution for tracing any debtors nationwide that you need to locate. Our online debtor tracing system has a user-friendly interface while our team of investigation partners is able to access links to addresses that have been taken from credit activity details and databases.
We have made significant investments in the live technology that we use to trace debtors, and this allows us to find 99% of the debtors with overdue payments that we receive instructions to locate within just seven days of being instructed. Furthermore, our cutting-edge technology is enhanced by our expert team of highly experienced investigative debtor tracing agents.
With our prices starting at just £45 excluding VAT, our service represents amazing value for money. We even offer a no trace no fee service with results available in just 24 hours, so you’ll have nothing to lose by choosing us.
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