Asset and Tracing Reports are powerful tools in the debt recovery process. Whether used during the pre-legal stage to assess a debtor’s financial standing or post-judgment to determine the viability of enforcement, these reports provide crucial insights. At Legal Recoveries, our bespoke reports combine advanced research methods with manual assessment, offering unparalleled accuracy and value.
Why Asset & Tracing Reports Are Essential
Asset & Tracing Reports serve as a critical decision-making tool in the debt recovery process. They help businesses:
- Evaluate Financial Viability: Determine whether pursuing litigation is financially worthwhile.
- Enhance Recovery Strategies: Understand a debtor’s assets, location, and solvency to plan effective enforcement actions.
- Avoid Unnecessary Costs: Save money on court actions when a debtor has no assets worth pursuing.
Our reports are designed for all types of debtors, including consumers, sole traders, and limited companies, making them versatile for various scenarios.
Features of Asset & Tracing Reports
1. Comprehensive Data Collection
Our reports gather information from diverse sources to provide a complete picture of the debtor’s financial and personal circumstances. This includes:
- Identity and Trace Research
- Insolvency Status
- Property Reports (including valuations and photographic evidence)
2. Off-Target Research
We go beyond surface-level information, researching variants, aliases, and associated addresses to uncover hidden details about the debtor.
3. Photographic Evidence
In some cases, photographic documentation of home addresses, business premises, or visible assets is included to strengthen the report.
4. Tailored Insights
Reports are manually assessed to ensure accuracy and relevance, offering actionable insights based on the case’s unique circumstances.
Types of Reports Available
Mini Asset Trace Report
- Cost: £150
- Timescale: 14–21 days
- Includes:
- Identity Research
- Insolvency Details
- Trace Research
- Basic Property Reports
Full Asset Trace Report
- Cost: £250
- Timescale: 21–28 days
- Includes:
- Scope of Work & Executive Summary
- Family Connections & Known Associates
- Property and Asset Valuation (including photographic evidence)
- Land Registry Searches
- Active, Dissolved, and Overseas Directorships
- Hidden Asset Research
- Press, Media, and Social Media Insights
- Conclusion & Recommendations
For detailed guidance on selecting the right report, contact our client services team.
When to Use Asset & Tracing Reports
- Pre-Legal Stage: To determine if a debtor has sufficient assets to justify litigation costs.
- Post-Judgment Stage: To identify enforceable assets for recovering outstanding debts.
These reports are particularly useful for high-value debt cases or when the debtor’s location or solvency is uncertain.
Benefits of Choosing Legal Recoveries’ Reports
- Boots-on-the-Ground Research: Unlike desk-only reports, we incorporate physical property visits to provide more comprehensive insights.
- Cost Efficiency: Avoid unnecessary litigation costs by understanding a debtor’s financial standing before proceeding.
- Customisation: Reports are bespoke, ensuring they meet the unique needs of each case.
Frequently Asked Questions (FAQ)
1. What are Asset & Tracing Reports?
They are detailed investigations into a debtor’s assets, solvency, and location to support informed decisions in debt recovery.
2. Who can benefit from these reports?
Businesses dealing with consumers, sole traders, or limited companies can use these reports to assess debtors effectively.
3. When should I use a Mini vs. Full Asset Trace Report?
Mini reports are suitable for simpler cases, while full reports are ideal for complex cases requiring in-depth analysis.
4. How do these reports help avoid unnecessary costs?
They identify whether a debtor has enforceable assets, preventing you from pursuing litigation when there are no recoverable assets.
5. What makes these reports better than desk-only reports?
Our reports include physical property visits and manual assessments for greater accuracy and reliability.
6. What types of evidence are included?
Photographic documentation, property valuations, and detailed asset profiles are often included.
7. How long does it take to get a report?
Mini reports take 14–21 days, while full reports take 21–28 days.
8. Can these reports be used for international cases?
Yes, full reports include research into overseas directorships and assets.
9. What information sources are used?
Our reports draw from land registry searches, credit referencing, media research, and more.
10. How can I instruct Legal Recoveries for a report?
Simply select the desired report via the “Instruct LRC” dropdown in Debt Manager or contact our client services team.
By leveraging Legal Recoveries’ Mini and Full Asset Trace Reports, you can make informed decisions, optimise recovery strategies, and avoid unnecessary litigation costs. Contact us today to get started.
