Have you ever tried to do your family’s genealogy? If so, you probably appreciate how frustrating it can be to reach a dead end due to what appears to be a lack of information. We experience similar dead ends when running asset searches on judgment debtors. So in a sense, running an asset search is a lot like genealogy.
The two practices are also alike in another very important way: success almost always depends on an investigator’s ability to connect the dots. Neither genealogy nor asset searches are straightforward. In most cases, an investigator needs to gather information from multiple sources. And oftentimes, the information does not make much sense when each data point is looked at separately from the rest. But connect all the dots and the picture becomes clearer.
Investigating Multiple Data Sources
Plenty of clients who come to us after attempting in-house collection knew enough to check public property records for debtor real estate. It is a common-sense thing to do. But public property records are just the start. They are by no means the only data source worth checking.
What other sources do we check? That we cannot tell you. Providing too much information in a forum like this would tip off judgment debtors as to how they could continue avoiding payment. Needless to say, we have access to a long list of public and private data sources that tell us what we need to know.
A Genealogy Example
Though we really cannot give away our secrets in a blog post, we can provide a genealogy example to illustrate how asset searches work. Imagine a genealogist trying to locate a long-lost relative who may be a distant cousin of her client. She would start by building a family tree that went back far enough for her to then proceed down into other branches to identify the missing relative.
She would start with publicly available genealogy databases. She would also look at newspaper records, census data, and public records pertaining to births, deaths, and marriages. From that data, she might be able to get back a couple of generations.
She could begin combining data from other branches of the same tree. She starts connecting the dots from one branch to the next. She might even use sources like social media to get new names, contact information, and so forth. She lays the data out and works on the connections until they lead her to the long-lost relative.
Knowing Where to Look and What to Look For
Asset searches are very similar. For our experienced team, finding assets is all about knowing where to look and what to look for. We are not after public property records alone. Instead, we look for every clue that points us to the debtor, his location, his income streams, and any assets he owns.
What most people do not understand is that they leave a lot of trails behind them as they make their way through the digital world. Even people purposely trying to avoid leaving a digital footprint cannot help but leave behind some clues. The skilled investigator knows where to find the clues. He also knows how to combine them with a plethora of proprietary information to find assets.
Both genealogists and judgment collection agencies love putting the puzzled pieces together. It is in the blood. And when all those pieces come together to form a complete picture, it’s game over. It is what we do for our clients every single day. So if you have an outstanding judgment that you need help with, get in touch with us.