The Scoop On How To Obtain Financial Information Of Your Debtors
Being able to locate a debtor’s bank account information could be very useful in your attempts to collect debt. By law, it is required that a private investigator to do the work. Be wary when you hire someone to locate bank account numbers as there are a number of scam companies claiming that they can help, and take your money with no activity in return.
Below are legal tactics that you can use to get a debtor’s bank account information.
First, if your debtor works at a retail store buy something from the debtor and pay by check. This is an excellent tactic to determine account information by looking at your own bank statement; the bank account information will allow you to figure the debtors account number.
Interacting with a previous landlord of the debtor can be quite helpful. Ask his formal landlord if you can look at the rental application and obtain financial information. You can also subpoena the old land lord for a copy of the rental application to see where the defendant banked. Because old habits die hard, it is likely that the debtor still uses the same bank account.
It may be wise to consider serving a Business Record Subpoena on the debtor’s employer so that you can acquire a copy of a payroll check the debtor has cashed in. The check should have the defendant’s account number and possibly the name of the bank on the bank.
In addition, there are a few “colorful” ways to acquire information about a debtor’s bank account. Conduct a trash search. This is an simple way to obtain bank information and a way to get to know more than you ever wanted about this debtor.
A very elaborate ploy to get the skinny on your debtor’s bank account is what I like to call “the fake block party.” Send post cards to anyway who lives on the debtor’s block, and put up signs directing traffic towards his house. The debtor may get block party fever and open his garage. Scope out his items and take inventory. He may even start to sell things. At this point, purchase something and hand them a check.
So there you go. All of this is legal, but my advice would be to look through trash and stage a block party last, because that seems kind of crazy.
Mallory Megan is employed by a debt collection agency. Also, she does articles on business, finance, consumer spending, and debt collection. Get a totally unique version of this article from our article submission service