Whether to File a Lawsuit against an Individual or a Company Who Owes You Money
You have had a business deal go south and unfortunately have lost money. You have decided that you want to file a lawsuit against an individual or a company or both, for the unpaid bills they owe you. Your hope is to recoup your losses and be made whole. The first thing you need to know is whether the company and/or individual has the funds to pay you. The quickest and least expensive way to determine if it would be cost effective to proceed forward with any type of litigation, is to order an Individual Asset Search, a Business Asset or both.
This way you can make an informed decision to determine that there are sufficient assets to secure payment in the event of litigation. An asset search will also let you know who else has sued your subject, or filed liens, or judgments or whether a previous bankruptcy had recently depleted your subject’s assets. The last thing that you want to do is to throw good money after bad debt.
By conducting an asset search as your “first” step in collecting a debt, you save time and expenses in legal fees, phone calls, correspondence, collecting evidence and so forth, against an individual or company that will never be able to pay your debt. And if there are sufficient assets, then you know that in advance so that you can reach and apply those assets.
An asset search will uncover the assets and liabilities of an individual or a business. Common types of assets include, but are not limited to, real estate, deed transfers, Dunn and Bradstreet records and personal property such as motor vehicles, boats, aircraft, patents, trademarks, and internet domains. The searches also include assets under other entities that may be associated with your subect(s) such as trusts, limited liability companies and partnerships.
Asset searches normally include the following on both individuals and businesses:
• Real estate and deed transfers
• Mortgage information (when available)
• Federal and state tax liens and encumbrances
• Uniform commercial code liens (UCC Filings)
• Motor vehicle and registration information
• FAA pilot license information
• Professional licenses held by subject
• Associated businesses with subject
• Current addresses and phone numbers
• Voter registration information
• Concealed weapon permits
• A/K/A’s and D/B/A’s of the subject
• Criminal records
• Sexual offender records
• Neighbors and relatives
Asset Search Plus, Inc., for example, can conduct a nationwide asset search for as little as $185, per individual, and only $165.00 for a corporation or business. The search results are forwarded to you within one (1) to (2) business days. Asset Searches Plus, Inc. can be contacted at 1(800)290-1012, ext. 111, at firstname.lastname@example.org or by visiting www.assetsearchesplus.com.