What are the assets of the debtor?
How can I determine what the debtor owns? First, you must determine what the debtor’s assets are. Basically, this means: If the debtor has no cash, what does he own that could be sold to offset the amount the debtor owes on his debt?
Below is a checklist for conducting an asset search.
Historical financial situation
__ Up and Down __ Constant __ Tragedy
Current financial situation
__ Job Status __ IFM Job Status __ Windfall __ Household Status
future financial situation
Tax Refund Work Bonus Commission Check Settlement
Big Sale Family Health Moving Birth Death
What assets does the debtor have?
Motor vehicles
Ships / Boats Aircraft
Trust Deeds
tax links
sentences
401ks
Lawsuits
UCC Presentations
associations
Inventory
Own equipment
Royalties
Contracts
accounts receivable
up to the faucet
bank accounts
Wages
Other income
Inventory
jumps
Clothing
animals
Books
household items
Musical instruments
Crops
accessories
Instruments
Promissory notes
patents
Get the financial answers
o Payment schedule
o Who makes the payments?
Why?
get good money
sources of money
Money
Money order
credit card
Debit
Western Union
Small Amount Payment
Assignment
Direct Deposit (ACH)
Postponement / Extension
Change of expiration date
consult by phone
Get paid NOW
What is your contact schedule with the debtor?
o When do they have time in their day to talk to you?
o Eliminate distractions
o Schedule the next contact time
What prevents the debtor from making the payment RIGHT NOW?
o Make time in your schedule
o Eliminate excuses
Ask!
Future Payments
See beyond the end of the month Set up 2 payments at a time Leave messages with EXACT contact information.
Please note that different states have different laws. Check with your legal agreement for instructions.
Always. Happy hunting.
