Arkline has seen a dramatic increase in the demand for pre-sue, means and discreet financial status reports over the last couple of years.
We believe this is due to the increased costs in debt recovery and the creation of the £5,000 minimum debt threshold for Statutory Demands. Our reports are valuable tools in assisting our clients to make the most cost effective way of recovering their debt. Means reporting provides our clients with further information about the debtor.
Our means and pre-sue reports involve performing a discreet in depth asset/financial search, researching company appointments, property and ownership searches, employment details, deep media search.
We regularly find new properties that have not previously been declared, or may show the debtor to be owing several different companies and have limited resources with which to pay these debts. Means and pre-sue reports allow our clients to make an informed decision on their next step against the debtor.
Case Study: Discreet Financial Status Report
We were contacted by a client who was owed in excess of £50,000. The debtor was not cooperative and was claiming that he had no income or assets and would not offer any repayment. Our client felt that this information did not fit in with the subject’s lifestyle and so requested a discreet financial status report.
We carried out enquiries regarding addresses and found properties associated with the subject and discovered a holiday cottage, which was listed in his name with the land registry, which he had not declared. We established that it was being advertised through Owners Direct and we could clearly see the bookings and rates confirming another source of income. We then reported back to our client who utilised the new information when deciding how to pursue the debtor.
Find out more about our financial status report service here
