How to Find a Debtor's Assets

Sophisticated debtors know countless ways to use state and federal laws to shield their assets from creditors. But it is extremely difficult to shield all of a person's assets. Public records of real estate, court cases, corporate filings--even aircraft and boat ownership--leave a long paper trail that you can exploit to collect your debts. The key here is to gather as much information on names and corporations a person uses, and then conduct searches in those names.

Instructions

1

Conduct a search of state corporate names. Business owners shield themselves from liability by incorporating their business. This is legal, and good public policy, because it allows entreprenuers to take on more risk without fear of losing their house. Unfortunately, debtors evading collection can use this system to hide assets. The registry of corporations is conducted by the states--usually by a division of the secretary of state. You can search for corporations using your debtor's home or business address, his spouse's name, his name and his former addresses. There are also publicly filed trade debts filed under the Uniform Commercial Code that may turn up the existence of assets.

2

Search land records. Using any of the names and addresses you have discovered from the corporation, go to your local county government offices and research the ownership of the addresses listed in the corporate registries. For example, if the corporate registry turned up the XYZ Corporation located at the debtor's residence, 123 Elm Street, search land records for other assets owned by the XYZ Corp. You should also research who owns 123 Elm Street. If it is your debtor, congratulations, you have found an asset. If it is another corporation, return to the corporate records to find out as much as you can about the corporation. It could be a landlord. It could be your debtor. Search for mortgages, deeds, and land ownership under all the names and addresses you have located. You may have to travel to several counties to create an accurate picture of your debtor's assets, especially if they are wealthy.

3

Search court records. If your debtor has ever sued or been sued, the record of that case is available for public review at the court in which the case was filed. But there are numerous types of courts. Family courts may handle divorce cases, and they have a wealth of information on a person's assets. Bankruptcies and cases dealing with federal law can be found at your local federal courthouse. Criminal cases are also available for public review. Research these cases using the name of your debtor along with any corporate names you have found.

4

Search professional licenses and other miscellaneous records. If your debtor does business in a city or state, he or she might be required to have a professional license. These licenses may help you find additional addresses that a debtor uses, and they may help you find the existence of insurance policies. There are thousands of types of public records available, including building permits and registrations of stock brokers, lawyers, doctors and other professionals. The Federal Aviation Administration maintains a public database of airplane ownership--searchable by the name of your debtor and other corporations. Campaign donations are also public record.

5

Review your findings. The biggest asset most people have is their home or other real estate. By collecting addresses of corporations associated with your client, you can research the ownership of the addresses where your debtor is based. But don't overlook the value of other assets, such as boats, planes, automobiles and business partnerships.