It can be a difficult situation when someone owes you money and refuses to pay. In general, having to be the U in IOU can be agonizing. And it only gets worse when the person who owes you money won’t pay up. Hiring a private investigator can help you find out whether or not someone is actually telling you the truth when he says he doesn’t have the money.
Say you are in the midst of divorce proceedings and your soon to be ex is saying he has no assets. Or you loaned a “friend” a big chunk of money and he hasn’t kept his part of the bargain. Or you notice something strange in your businesses financial accounting records.
In fact a private investigator can help you find out whether or not:
- Your debtor has a history of fraud or tax evasion, low credit ratings or any kind of criminal activity.
- The person owing you money has a story that changes frequently. Many times a person who actually does have the assets will make a mistake about how much they do have.
- The debtor says one thing about their low assets, but is actually living a luxurious lifestyle, paying for expensive meals out, taking frequent vacations, etc.
It’s called asset fraud and a private investigator can find out just how much fraud is happening. In many cases people who say they don’t have the money to pay are simply refusing to pay but do have assets. A qualified private investigator can help you reclaim the money that is yours to begin with.
You can turn to a private investigator to help you uncover debtor assets as well as cash that debtors might claim they don’t have. If someone owes you money and you suspect that you are a victim of asset fraud, a private investigator can help you:
- Instigate actual investigations of money laundering and corruption. A private investigator can use surveillance equipment and other computer investigation techniques that can recover erased financial data for example.
- Use electronic and online resources to help uncover any type of financial fraud.
- Trace the ownership of camouflaged assets and property.
- Search bank and brokerage records to uncover hidden assets.
- Find and identify the value of assets owned and managed by a debtor to determine their exact worth.
- Trace where hidden assets have gone by using records such as change of address, real estate, department of motor vehicle data and other data.
A private investigator can help you with almost any debt related issue such as:
- Work with lawyers and collectors who have attempted the same debt collection.
- Collections from a judgment in court.
- Collections from an international debt issue.
- Uncollected contingency fees, alimony or other money owed over a period of time.
The benefits of private investigator over a debt collection service include:
- Finding out if your debtor has money or assets in a bank that is somewhere else.
- Private investigators are accomplished at working in multiple states and understanding their local collection laws.
- The larger the debt, the more reason to hire a private investigator. Investigators know how to investigate and use the legal system to help you recover debt.
Most private investigators work with lawyers and collection agencies but with much more freedom and time than a lawyer or agency, an investigator can dig deeper into a person’s financial history.