You have spent the last few months seeing attorneys, collecting evidence and soliciting possible witnesses for an extremely promising lawsuit and it doesn’t seem to be as if you have missed any critical component for successful litigation. What if down the road you find out that the debtor specific or business has filed for individual bankruptcy this past year? Imagine if as it happens that the debtor specific only has assets worth a small percentage of what you are requiring? And even worse, what if the defendant’s liabilities very good exceed their belongings. The best success of an lawsuit depends upon whether the debtor pays for your damages. You don’t want to misuse thousands of dollars in legal professional fees as well as your important time only to discover that the view is only a meaningless little bit of paper because the accused does not have any money or other property to gratify the judgment.
Therefore, it is imperative that an individual or business and their legal representatives conduct an asset search before filing a lawsuit. A secured asset search determines whether it’s financially beneficial to data file a lawsuit. You intend to ensure that the debtor has sufficient resources to fulfill the judgment so that you win the challenge as well as the battle. Second, attorneys can also get critical information from a secured asset search to gain significant leverage during pre-litigation negotiations and post-litigation discovery. That leverage enables the plaintiff to make a proper demand or decide never to continue in front with litigation. If there is little or nothing to gain, you don’t have to get exorbitant time and capital for a lawsuit.
Finally, if you ever decide to record a lawsuit, you have to ascertain who to sue. If both a person and a small business get excited about the claim, a secured asset search will be invaluable to find out whether to sue the business or the average person or both because the search will identify that has sufficient possessions, and from whom you’ll have a higher odds of recovering your problems.
So what exactly will a secured pre-litigation asset search reveal? A secured asset search will reveal the assets and liabilities of a person or a small business. Common types of property are include real house and other personal property, such as automobiles, boats and airplane, but could also include property under other entities such as family trusts, limited responsibility companies or partnerships that may have been fraudulently moved for the intended purpose of hiding assets and avoiding judgments.
Asset queries normally are the following on both individuals and businesses:
• Property and deed transfers
• Home loan information (when available)
• Federal and talk about tax liens and encumbrances
• Uniform commercial code liens (UCC Filings)
• Automobile and registration information
• FAA pilot license information
• Professional licenses held by subject
• Associated businesses with subject
• Current addresses and telephone numbers
• Voter registration information
• Concealed tool permits
• A/K/A’s and D/B/A’s of the topic
• Criminal records
• Sexual offender records
• Neighborhood friends and relatives
You must find a secured asset search company that will offer you quick, easy and affordable solutions.