Why Use an Asset Accumulation Report? Is money owed to you by another party? Do you have a skipped or delinquent tenant? Are you looking into ways to collect that debt? Are you trying to enforce a judgment? Are you considering legal action? Don’t make a decision just yet.
Before proceeding, it is important to consider the benefits of an Asset Accumulation Report in your decision-making process.
An Asset Accumulation Report is a valuable tool to ensure you uncover everything you need to know prior to launching a legal action or attempting to enforce a judgment. It is useful for those working in:
This is because Asset Accumulation Reports can identify a debtor’s assets and liabilities, allowing you to determine whether you will be able to collect on that which is owed to you, and it can assist in locating the defendant’s address for service, bank accounts and employment confirmation for garnishment purposes.
The Asset Accumulation Report can also be effective in detecting fraudulent conveyances and unjust preferences.
Asset Accumulation Reports not only look at assets owned by the debtor or defendant but also liabilities. This will help give you and/or your lawyer a better idea of the probability of debt recovery.
When investigating your debtor or defendant, QCR will look at the following:
While it is better to go into any debt recovery process with the most information possible, it is never too late to take a better look at your debtor or defendant to determine whether there is a probability of debt recovery.
An Asset Accumulation Report can help you at the following stages:
At Quality Credit Reporting, we have years of experience helping companies evaluate a debtor’s status, specializing in timely reports that assist in pre-judgment collections and post-judgment recovery.
We offer an effective suite of reports designed to assist you and your organization at different stages of the action, from collections through to enforcement.
For more information about our Asset Accumulation Report, download our Defendant’s Financial Worth and Whereabouts brochure or contact us today.