The chances are that at some point in our lives we will have lent money to a friend or family member which we know we’ll never get back. Unless we risk losing the relationship we have with the person then the debt is written off and we put it down to personal experience.
However, what if you’re in the corporate sector and you’ve seen fit to lend large amounts of money, through lending agreements to purchases made on credit and the client stops making the required repayments? The risk to losing those funds would be considerable and not something any business owner would wish for. In these economic fluctuating times losing company funds could be catastrophic for a business and could potentially lead to its closure.
Unfortunately, there will always be those who are unable to pay the debt back, it’s the law of averages, at some point someone will forfeit a payment. Therefore, the only option is to try and understand the debtor’s financial circumstances before embarking on any financial agreement with them. This is where you will need to seek specialist support in order to get the funds paid back as soon as possible.
There will also be those who say they can’t repay the debt, but that they actually can. At Baxford, we can help clients to recover this money through one of our services, Employment tracing. This form of tracing is sadly very common in the corporate sector. We are able to conduct enquiries for our clients to find out someone’s current employment status. We can trace whether the individual is employed or unemployed, or if they are self-employed and run their own business.
If the individual is employed then they are probably under the PAYE scheme, which supports an attachment of earnings or if we need to find a current address for them. If they are unemployed, then our experienced investigators will attempt to establish if they are claiming any benefits.
At Baxford, not only do we support employment tracing in the business to business sector, we also work for the private market in tracing employers. For example, the Child Support Agency (CSA) may contact us to investigate an absent parents’ employment status. In some cases, we will also work collaboratively with the present parent and their case solicitor to recover unpaid child allowance.
All our investigators are professional, confidential and thorough with all the evidence they find. All the searches will be carried out discreetly, either by calling the person directly before contacting the employer or by obtaining the information without arousing suspicion. Rest assured Baxford will do all it can to recover monies owed to you. All we require is the full name of the individual and the last known residential address. Any additional information such as a date of birth, NI number or previous employment details will help us with investigations.
Baxford is dedicated to the successful outcome of each matter undertaken. Whatever challenges you are facing we offer a discreet, patient and understanding service. To find out more and for a no-obligation discussion, please contact 020 8255 1010 or request a call back by e-mail.