Asset Tracing Services

Tracing and Asset Reports

Asset Tracing Report Insight Service

Insight and Insight Plus can provide an overview into your debtor’s financial position which can be an invaluable tool to help you decide how to proceed with the matter.

The report provides the following details if available.

  • CCJ’s number of and whether they are paid or unpaid
  • Insolvency Information such as IVAs /Bankruptcy
  • Employment check indicator & salary information
  • Total number of credit applications
  • Land Registry information.

 The Insight Plus service offers all the above details and also a residency checker which double checks the probability of your customer being at the given address.

Tracing

As CSA members we work to their trace code of conduct which sets out the best practice standards. We undertake tracing internally and externally using a third-party specialist supplier.

Address Tracing

If we receive notification that your customer has moved, we can trace their whereabouts. There are two main types of trace – initial and secondary.

Employment Trace

We provide a rapid and efficient employment trace service for our clients. This is used to establish your customer’s employment status; a positive verification will be if the agents confirm if the customer is unemployed, retired, or in employment and if so, they will provide the employer’s details. Employment trace is especially important if you are considering court action as we may be able to pursue an Attachment of Earnings order if your customer is in full-time employment. Employment trace and verification services to help clients confirm a person’s current or past employment details. This could include job title, salary, employment dates, and more.

Overseas Tracing

We provide our clients with an excellent overseas tracing service. If your debtor has gone overseas, then worry not as we are still able to help. We utilise the services of an agent to carry out our overseas trace searches to locate your customers.

Asset Trace Reports

We are pleased to offer two in-depth Asset Trace Reports: Full Asset Trace and Mini Asset Trace.

They are particularly helpful for high debt value cases and for cases where it has been difficult to establish a sole trader’s whereabouts. The reports can be obtained at any point in the debt recovery cycle. The reports show whether taking court action is appropriate and cost effective and will help us to make recommendations to you on how to proceed. They can also be used at the post judgement stage to help determine which enforcement method is appropriate to use.

The Full Asset Trace Report contains details of the scope of work, executive summary, identity research, trace research, family connections, known associates, associated addresses, insolvency details, legal proceedings, target company/business research, active directorships, dissolved directorships, overseas directorships, non-limited company research, shareholdings, land registry searches, hidden asset research, property visits , property reports, condition, valuation etc. including photographs, asset register, condition, valuation etc. including photographs, credit referencing, press, media, internet and social media research, conclusion and recommendations.

The Mini Asset Trace Report contains details of identity research, trace research, insolvency details, target company/business research, property visit, property report, condition, valuation etc. including photographs and visible asset profile.

Struggling to assess the true value of a business or individual’s assets? Our Full Asset & Mini Asset Trace Report provides the comprehensive intelligence you need to make informed decisions.. Don’t risk making a costly mistake – let our team of experts provide you with the crucial insights you require.

Get in touch

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Featured Customer Reviews

Nottingham City Council

I have had the pleasure of working with Legal Recoveries and Collections (LRC) for several years across various industries. Throughout our partnership, LRC has consistently demonstrated a deep knowledge of the market and provided strategic insights that have been invaluable to our business. Their excellent communication and commitment to delivering on promises have always stood out. LRC’s proactive approach, engaging early and adapting as needed, ensures that we are always prepared and supported. Their partnership style not only delivers the best results for our business but also enhances the experience for our customers.

Credit Control Manager – Leading International Law firm

“LRC provide a professional and efficient service, delivering regular updates and effective solutions”

International Credit Insurance Client

We have been utilising the legal review services of Legal Recoveries and Collections (LRC) for the past few years, and we couldn’t be more satisfied. Their reviews are consistently thorough and informative, becoming an essential part of our pre-legal processes. This has significantly helped improve our recovery rates and reduced overall legal costs. The team at LRC are also very easy to work with and always available to provide professional advice when needed. We highly recommend their services.

North East Ambulance Service

As an NHS ambulance Trust, we don’t have in-house debt collection specialists, so find it difficult to pursue monies outstanding once our usual follow up process runs its course. LRC was recommended to us by another local NHS Trust and we approached them to find out what they could offer. We have been using LRC for nearly 3 years now and have not been disappointed. Our collection rate is circa 70% which represents a significant sum of money that is coming back into the NHS for patient care.

The team are very knowledgeable on the best route to recovery but will also advise when its just not financially viable to pursue a debt any longer. We have regular updates and meetings with Andrea the client services manager so everything is kept on track. It’s always our decision but LRC give us the best tools to make the right one.

London Metropolitan University

We have worked with Legal Recoveries and Collections for a number of years now and they have provided an outstanding service to us. We have worked closely with the team and have a good working relationship with both Rachel and Andrea. Their online portal is very user friendly. They have collected both pre-legal and post legal debts for us to a high standard and we would recommend their services to anyone considering using them going forward.

Utilita Energy Limited

We contacted LRC when we wanted to strengthen our collections processes and recover debt after we had exhausted our internal processes attempting to collect. From the off, LRC offered exceptional advice and support and helped us shape the way in which we approach collections. The team at LRC have a wealth of knowledge and experience which has enabled them to collect a significant amount of money on our behalf and through their professional approach have helped to change customer behaviour in many cases from infrequent to regular payers. LRC have tailored their collections activities to meet our needs and regularly make suggestions to make sure we spend our money wisely to ensure maximum return from their services . We are currently working with LRC to create a bespoke training package that they will deliver to staff across the business who manage and recover debt. I would not hesitate to recommend LRC for debt recovery.

Frequently Asked Questions

1. What is an Asset Tracing Report?

An Asset Tracing Report provides crucial insights into a debtor’s financial position, helping you make informed decisions on how to proceed with debt recovery. The report includes details such as County Court Judgments (CCJs), insolvency information, employment status, credit applications, and Land Registry information.

2. What is the difference between Insight and Insight Plus reports?

The **Insight** report provides information such as CCJs, insolvency details, employment check indicators, and credit applications. The **Insight Plus** service includes all of this, plus a residency checker, which confirms the likelihood that the debtor resides at the given address.

3. How does your address tracing service work?

Our address tracing service helps locate customers who may have moved. We follow best practice standards as members of the Credit Services Association (CSA) and use both internal resources and third-party specialists to trace addresses. There are two main types of tracing: initial and secondary, depending on the complexity of the case.

4. What is an employment trace?

An employment trace is a service that helps establish a debtor’s current employment status. This is especially important if you are considering court action, as a positive verification can lead to an Attachment of Earnings order if the debtor is in full-time employment. The service provides details such as the debtor’s employer, job title, salary, and employment status.

5. Can you trace debtors who have moved overseas?

Yes, we offer an overseas tracing service to locate debtors who have moved abroad. We work with international agents to ensure that we can still help you recover debts, no matter where your debtor is located.

6. What are the Full and Mini Asset Trace Reports?

We offer two comprehensive asset tracing services: the **Full Asset Trace Report** and the **Mini Asset Trace Report**.
– The **Full Asset Trace Report** includes identity research, trace research, family connections, directorships, shareholdings, land registry searches, property visits, and a detailed evaluation of assets, including photographs and valuations.
– The **Mini Asset Trace Report** focuses on identity research, trace research, insolvency details, property visits, and a visible asset profile.

7. When should I use an Asset Trace Report?

An Asset Trace Report can be useful at any stage of the debt recovery process. It helps determine whether taking court action is appropriate and cost-effective. These reports are especially valuable for high-value debt cases or when it’s difficult to locate a sole trader’s whereabouts.

8. How can an Asset Trace Report help me with enforcement decisions?

Once a Judgment is obtained, an Asset Trace Report can help determine the best enforcement method to recover the debt. The report provides valuable information about the debtor’s assets, which will guide us in making recommendations on whether to pursue further legal action.

9. What kind of information can I expect from a Full Asset Trace Report?

The Full Asset Trace Report includes a comprehensive range of data such as insolvency details, legal proceedings, company research, shareholdings, property valuations, and hidden asset research. It also includes media and social media research, making it a powerful tool for assessing the debtor’s financial standing.

10. How quickly can you complete a tracing or asset report?

We aim to provide a rapid and efficient service, ensuring that our tracing and asset reports are delivered in a timely manner to support your decision-making process. Timeframes may vary depending on the complexity of the case.

Get in Touch with Us

If you have any questions about our service or would like to discuss your matters with us in greater detail, please contact the Business Development Team on 0330 024 6342

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