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Debt Recovery Advice: How to find information on your debtor

If an individual or Company owe you money, then what are the chances of you actually recovering that money?

Even before considering whether the Court would judge in your favour, it is better to first ask: Am I realistically able to obtain payment from the debtor? After all, what would be the point of a money Judgment that you cannot turn into money in your pocket?

Should your debtor lack any assets, you would likely waste money in obtaining a Judgment or issuing enforcement proceedings. If they do have assets, then you will need to know as much as possible about those assets; that way, you can consider the best way to obtain payment through enforcement of the Judgment.

Discovering your debtor’s circumstances

Should you not have any information about your debtor’s financial circumstances, you will need to make enquiries to find as much information as you can. There are various methods open to a creditor in trying to obtain information about the debtor, including:

Asking the debtor (or third parties) for information.
Looking on the internet.
Instructing an enquiry agent (a professional who obtains information about debtors’ financial circumstances).
Undertaking searches at:
- the Land Registry, to see whether the debtor owns his home;
- the Insolvency Registry, to establish whether the debtor is Bankrupt or is in the process of winding up;
- the Register of Judgments, Orders and Fines, which will show whether the debtor has any other Judgments against them – and whether they have paid;
- Companies House, to find out the accounts and other public information regarding the Company.
Applying to the Court for an Order to obtain information from the debtor. This requires the debtor to provide answers to the Court under oath about their financial circumstances.

Knowledge is power: Only when you are armed with as much information as you can find out about your debtor will you be in a position to effectively enforce your Judgment against them.