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Disclaimer:
The following article contains tips and suggestions for
conducting an investigation. Laws vary from one region
to the next, and what is legal in one state/country may
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There
are many reasons you may need to know the truth about an individual’s
financial situation. Amazingly many of these financial truths
can be discovered via searching public records...
There
are things you may discover that you never even thought of.
You can test this by doing a brief search about yourself,
and interestingly you may find things that you frankly don’t
want people knowing. There is a lot of publically available
information, and all you need to do is to know how to search.
Court
records are publically available for snoops to access and
dig out information regarding people’s financial situation.
For instance you will be able to find information in which
an individual has been sued by collection agencies or credit
card companies, it would also contain the final verdict of
the court.
Forty-three-hundred
US public jurisdictions store records of interest to people
attempting to locate assets. Most of these jurisdictions are
counties. Each jurisdiction has its own set of rules.
There
are Forth-three-hundred US public jurisdictions that sore
records that re of interest to people who are looking to identify
and locate assets. Amazingly each and every jurisdiction has
its own laws are rules that govern it.
Now
if you are searching for information about a person’s
financial situation here is a list of places and records you
should check for sure.
1.Real
Estate Ownership records available at the Assessors Office
in the Country Court House
2.Also
be sure to search though Business licensing information
available at the Country Court House.
3.Also
go through Probate records, which tend to yield a lot
of otherwise unknown information.
4.It
is also necessary to look through Divorce proceeding records,
to determine how much your subject is left with. These records
should be available at the State Vital Statics.
5.You
can also take a look at UCC filings at the Secretary of
state’s office.
6.You
can also take a look at the State DMV for your subject’s
Motor vehicle info. It should give you an estimated value
of the vehicle(s) he owns.
A
bank account is an asset as well, because it is there that
a person holds their money. Now if a debtor owes you money
and keeps saying that he or she can’t pay you back because
they don’t have the money, then knowing if and where
they have a bank account can help you determine how much money
they really have.
However
banks don’t have any one central database from where
all bank account records can be obtained in the country. Prior
to 1999 locating bank account information was in the realm
of the controversial especially in the asset search industry,
however things cleared out after the signing of new banking
regulations and it was no longer controversial to access anyone’s
bank account info.
Prior
to the signing professionals used a whole host to techniques
to uncover bank account information, which included gaining
access to a credit report as well as to form collecting networks.
Subpoenas and pretext calls were also frequently used to get
information. The new law has outdated the use of pretexts
to gain banking information. Today it is increasingly difficult
to get information about a bank’s customer. Banks that
have a matching SSN or Federal Tax ID number or FEIN as it's
called can also be frozen.
The
average American tends to have more than one bank account,
multiple insurance policies as well as safety deposit boxes
and brokerage accounts. If you can get a hold of a subject’s
tax return it can provide you with some solid information
regarding his / her bank accounts, partnerships as well as
investment and interest plus information on the dividends
he receives. You can also get a lot of information with the
help of a subpoena. On the other hand legally without a subpoena
you may not learn anything officially. With the help of a
subpoena you can ask for bank applications mortgages and other
details.
Running
a Background Check
Now
a simple and basic background check can yield if the consumer
bureaus knows of any aliases or multiple SSNs that are being
used by the subject. You will also be able to identify relatives
as well as if there were associated with any businesses.
People
tend to hide their real estate and vehicles. This is because
they would try to avoid paying especially when they face a
lawsuit. They would tend to avoid showing their posh houses
and fat bank accounts by transferring ownership as well as
the title of the property to somebody else, usually someone
they trust or even a close relative.
Hiding
Real Estate Trusts
Hiding
real estate in trusts are some of the most sophisticated means
of hiding property. On the other hand it is interesting to
note that a majority of real estate trusts are for legitimate
reasons. Just as with cash individuals may misuse trusts to
hide their real estate and hence conceal their true worth
to the world. They would act as trustees for the trust in
which they would place their property into. They may also
place their property in to trusts where their children, spouses
and friends are trustees. It may be to their advantage to
hide their property in trusts without being trustees.
Hiding
Real Estate Value in Corporations
Now
even limited partnerships give people an opportunity to hide
their real estate assets just as they would in real estate
trusts.
An
attorney may be the agent in list in line to receive service,
and will have absolutely no connection with the owners or
the corporation. You will be handed over the dates of the
incorporation as well as the dates of the amendments, such
as change of title.
Some
states may also list the name of the registered agent. So
any information that you are able to pull up from applications
and associated records will be useful in your quest. You can
also arrange a discussion with business partners and associates,
which may turn out to be useful and shed some light on the
bigger picture. You can also request an annual report or financial
statement, which can be checked for discrepancies.
These
are some of the most commonly-used tactics employed by private
investigators and auditors to track down financial information
and assets.
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