Private Detectives Can Help Establish if a Debtor Can Pay

In these times of economic decline many companies are owed thousands of pounds by individuals who claim they cannot afford repayments. This varies greatly but typical industries heavily affected by this are credit card companies, mortgage lenders and banks. Establishing if your debtor can pay is a tricky task; however Insight Investigations team of private detectives can help.

Online PR News – 27-April-2011 – – The unemployment figures in the UK have risen dramatically over the past few years, big brand firms such as Woolworths through to public sector workers have all been affected by the recession. As a result of job losses and the increase in unemployment, naturally many people have been left in a situation where they claim that they cannot make their agreed mortgage or credit repayments.

This scenario has had a knock on effect with many of the credit providers and mortgage lenders also reporting financial difficulties and struggling to survive, a major factor in this is that insurance companies are not willing to cover the lenders for missed payments due to the economic climate we face in the UK.

There are two sides to this scenario that the lenders must consider when attempting to negotiate a repayment plan or chase the debt, can the borrower afford the repayment and can they themselves afford to reduce or postpone payments. Insight Investigations private detectives can help any lender looking to get their money back, by investigating the background and assets of the borrower.

For example, if somebody owes £30,000 with another 10 years left on the credit agreement and has been made recently unemployed they may claim they have no way to make repayments until they are in a better financial situation. Without instructing a private investigator to check their background and go deeper looking at any assets or hidden assts that could be helped to pay the debt your business could be facing financial decline.

Many people who are out of work have savings, shares and investments, as well as items of value that may not be deemed essential. Insight Investigations can help to trace such capital that could prove vital to your business and its long term survival.

Obviously not everybody has savings and such, an asset tracing investigation will help to prove this either way then you can be sure that your client is genuinely in an impossible situation to pay you. Instructing a background check to compliment an asset tracing investigation is also a useful way of finding out that the borrower is really unemployed or not.

Should all parties be in agreement, an Insight private detective can also interview the Debtor personally and arrange an affordable yet relevant payment schedule. Such interviews are conducted with tenacity and discretion. This can assist in negating the 'knee-jerk' offer of an unrealistic and unaffordable re-payment amount, and can also assist in ascertaining the Debtors background particularly in those cases where an unrealistically low re-payment is offered.

Undertaking such interviews has seen those debtors who, through fear or ignorance, have ignored letters demanding payment and entering into a repayment schedule that they can both afford and is relevant to their circumstances and which they maintain through the agreed period of repayment.

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