Debtor Tracing with DRS

Keeping up to date records of customer information plays one the most vital roles when trading on credit terms. However, sometimes debtors may purposefully or unintentionally not inform you of such changes to this information. In the event the Debtor fails to make payment in a timely manner, the recovery of such debt can lead to a very arduous and challenging task for most.

Whether you are a Landlord trying to locate your Tenant for rental arrears or a Creditor who needs to locate a defaulted Debtor; DRS’ Tracing Services will be an invaluable tool that you can look to rely upon. Our experienced in-house team can assist at any stage of the order-to-collections process and we provide our clients with detailed and factual reports.

Debtor Tracing Options

Credit Checks

Before offering credit to an individual, or company, it is important to credit check them to assess their creditworthiness. These checks not only show a credit score but also any adverse history such as County Court Judgements, Defaults, Bankruptcy etc.

Basic Tracing

We possess a number of tracing facilities and employ an array of methods in which we utilise them, including the Electoral Roll, Credit Information and Land Registry. We will confirm if any adverse information is present on the Insolvency Register and will also carry out subsequent telephone checks, including social media searches and other digital footprints using our online searching techniques.

Employment Trace

If you know where a Debtor resides or resided previously, we can look to confirm their employment status and where they are employed. This then also allows us to provide their position within the company and any contact numbers or email addresses where applicable. Knowing a Debtor's employment status can be a critical factor when considering legal action against them and can also be used to corroborate a reason for non-payments by Debtors.

What happens next?

Besides the methods mentioned above, there are also other options such as Status Reports, which is far more thorough than a Credit Check or Employment Trace and is commonly used to determine whether litigation is the correct course of action when a debt becomes due. Whichever Tracing Services you require, these reports are incredibly beneficial in helping you decide what course of action you take next, and what Enforcement Action you employ in order to recover sums owed to you.

With this kind of information at your fingertips, you can then decide whether or not to offer credit terms or simply pursue your debtor by instructing DRS on your behalf.

Our experience has found that clients save both time and money by investing promptly in DRS in order to handle matters quickly and efficiently, however, it is vital to take action at the earliest opportunity. For more information you can speak to one of our experienced Solicitors by calling us direct or by sending us a message via our contact page.