When To Hire A Tracing Agent

Whenever you need to find a person you're no longer in contact with, it's best you hire a private investigator. If the person owes you money, however, the best option is to hire tracing agents. These are professionals with access to databases that are not available to the general public as well as other resources and techniques they use to find debtors. They are highly effective and operate legally in the country. In addition to finding debtors, these professionals can also help companies find the beneficiaries of deceased individuals. For instance, an insurance company may want to compensate the family of a deceased person, but they cannot locate that person.

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Employment Tracing Agents

When a debtor defaults on a debt and the creditor is not able to attach their pay slip or assets, it can be almost impossible to recover overdue debts. Tracing agents can check whether the debtor is employed or self employed. If they are neither employed nor self employed, the tracing agents will check whether they're claiming state benefits. They'll also check if the debtor is a company director and secure the information required to obtain an attachment of earnings order. Most tracing agents can complete their work within a month, with many of them offering different types of guarantees, such as no trace, no fees. This means that they only get paid if they successfully trace an individual, whether its a debtor or beneficiary of an insurance policy. 

The beauty of hiring a tracing agent is that the cost of the service can be added to the cost of recovering the debt, which means the company will not incur any extra cost. In fact, the company can only suffer financial losses if the tracing agent is unsuccessful in tracing a subject. The good news is that most tracing agents offer a no-trace, no-fee guarantee. 

What to Look for in a Tracing Agent

i) Accreditation

The first thing you should do when looking for a tracing agent is to search the internet and make a list of tracing agents operating in the UK. Before you make the list of the top-rated service providers, be sure to confirm that they are accredited by the CSA (Credit Services Association). At least one or more members of the team should be members of the Association of British Investigators. This is crucial because you want to hire a firm that adheres to the law and has the necessary industry linkages to provide you with the desired results within the shortest time possible. 

ii) Experience

Tracing agents, just like accountants, usually get better with time as they serve more and more clients and handle a wide variety of cases. When comparing the shortlisted tracing agents, therefore, it is crucial you pay attention to their experiences. The most experienced tracing agents are usually more competent, so they deserve to be given special consideration. 

iii) Services Offered

Some tracing agents only locate the address of the subject, but do not provide their current phone number. Others can provide both the address and phone number. They even do field visits to confirm that it's actually the subject living in the address they discovered. Lastly, you should compare the fees charged by different firms before making a decision.