Some debtors seem to specialize in being an even bigger thorn in the side of their creditors. It can be a matter where they say that they will pay the money, and then after a few payments, miss one again. Or they pay less than owed but enough to string along the...
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Asset Recovery & Hidden Assets
Disappearing debtors
Many consumers who find themselves with heavy debt loads employ many strategies to avoid paying what they owe. Delinquency notices pile in email accounts and mailboxes, leading to the debtor stopping all communications. While sometimes it is accidental due to a...
Are your debtors trying to outsmart you?
There is no shortage of advice online centered around topics such as “How to outsmart your creditors” and “Tips for avoiding debt collectors.” If you are owed money, it might be helpful to know the information your debtors are accessing to keep you from getting what...
Debt collection options for assets hidden in a business
Collecting a debt can be a stressful task. While it is never a fun task, getting people to pay what they owe is essential to supporting the businesses you serve. When people get desperate to avoid paying a debt, they may resort to trying to hide their assets. In some...
Forensic accountants: the secret weapon of debt collectors
Debtors are nothing if not clever when it comes to hiding assets. As any creditor or debt collector can tell you, discovering hidden assets and collecting outstanding accounts is not easy. If you suspect that a debtor has taken measures to avoid repayment by using...
You can find hidden assets and correct fraudulent transfers
As a business owner, it can be extremely frustrating when you cannot get paid for the work that you’ve done or the services you’ve provided. Seeing someone take from you without being willing to pay what’s owed is hurtful and harms your business. Sometimes, it’s...
4 ways people may attempt to hide assets when facing collections
If someone owes you money and you’re trying to collect, it’s already a frustrating situation. If they would have just paid like they agreed to do, this whole situation could have been avoided. But they haven’t paid, and now you have to try to actively seek that...
The role of a forensic accountant in difficult collection cases
An individual owes your business a significant amount of money. Despite having a job, a vehicle and a house, they claim that they simply cannot make payments on what they owe you and default on the debt. Maybe they even try to file for bankruptcy to keep you from...
Piercing the corporate veil can help you collect on debts
One of the benefits of starting a corporation or LLC is that the business entity protects the owner(s) from any personal liability. If the business fails, if it faces a major lawsuit or if it accrues substantial debt, the company and not the person who runs the...
How can I recover debt from assets held in an LLC?
If a Limited Liability Company (LLC) owes your client money, it will be hard to seek payment from the owner’s personal assets. Yet, it can also work the other way around. If someone has personal debt, they may still have assets in their LLC, which they think you...