When considering legal action, especially when pursuing someone for money owed, the process can quickly become overwhelming and expensive.
One of the most important steps before initiating a lawsuit is determining whether you have a solid case and whether the person you’re considering suing has the financial means to settle the debt. You don’t want to waste your time and money chasing a dead end.
This is where a pre-sue report comes into play, and it can be a game-changer in how you approach your case.
What is a Pre-Sue Report?
A pre-sue report is a detailed investigation into the financial background and assets of a potential defendant before taking legal action. The purpose of this report is to give you a clearer picture of the person or business you are considering suing and whether they have the financial means to pay any judgment that may be awarded.
Essentially, it acts as a safety net, helping you avoid the expense and frustration of pursuing a case that may ultimately be futile. If the pre-sue report tells you that you’re unlikely to gain much from suing, then you could save yourself a lot of trouble and cash.
The Key Benefits of Pre-Sue Reports
Assessing the Strength of Your Case
Before you decide to file a lawsuit, it’s important to understand if the subject has the financial capacity to pay if the case goes in your favour.
Pre-sue reports examine various aspects of the subject’s financial standing, such as employment status, property ownership, and any bankruptcies or debts. This helps you to decide whether pursuing legal action is worth it or if you might be better off negotiating a settlement.
Identifying Hidden Assets
One of the most significant benefits of a pre-sue report is the ability to uncover hidden assets. Some individuals may attempt to hide or transfer their assets to avoid paying debts – if they can claim they don’t have the cash, they might get away with it.
By conducting thorough checks on property ownership, directorships, and other financial records, a pre-sue report can help you identify whether a person has assets you may be able to claim if you win your case so that you get the money you’re owed.
Saving Time and Money
Legal battles can be costly, and the process of going to court can be long and drawn-out. A pre-sue report helps you avoid wasting time and money on a case that is unlikely to result in a positive outcome.
With detailed insights into the subject’s assets, you’ll know whether you have a good chance of recovering the debt owed to you or if you’d be better served seeking an alternative option.
Quick and Discreet Investigation
When you hire a private investigator to conduct a pre-sue report, the process is carried out quickly and discreetly. This is particularly important because you don’t want the subject to be aware of the checks being made – especially since that could encourage them to seek a way to hide assets.
Our investigators ensure that the process is seamless and confidential, so the subject remains unaware until legal action is taken, if necessary.
What Does a Pre-Sue Report Include?
A comprehensive pre-sue report includes a wide range of checks and investigations to gather all the necessary information about a subject’s financial situation. Here’s a breakdown of the key areas typically covered:
Employment Confirmation and Details
Is the person employed? What is their income like? Confirming employment is essential to understanding their ability to pay any potential judgement.
Lifestyle Checks
These checks provide insights into the subject’s lifestyle, habits, and spending patterns, helping to gauge whether they live beyond their means or if they are in a financially stable position.
ID Check
Confirming the subject’s identity is crucial to ensure that the right person is being investigated, especially when there may be potential confusion with names or addresses.
Address Verification
A pre-sue report will confirm not only the current address of the individual but also previous addresses. This helps in locating the person in case they try to evade legal action or move their assets.
CCJ (County Court Judgment) Search
Checking whether the subject has any outstanding CCJs can reveal whether they have had financial troubles in the past, which may impact their ability to settle your claim.
Bankruptcy Search
If the person has declared bankruptcy, it could indicate that they have limited means to pay any debts. This check will uncover any previous bankruptcies or recent financial failures.
Property Ownership Search
Investigating property ownership helps to identify whether the subject owns valuable assets, which could be used to satisfy any judgment if you win your case.
Directorship Search
If the person is involved in any businesses, they may have directorships or shares that could be seized as part of the settlement process.
When Should You Consider a Pre-Sue Report?
A pre-sue report is beneficial not only when you’re about to file a lawsuit but also if you’ve already won a case and need help tracking down assets that may have been hidden or moved.
If you believe the person you’ve sued has attempted to dodge payment by moving assets, a pre-sue report can assist in locating those hidden resources and ensuring you get what you are owed.
Final Word
Taking legal action is a serious step, and it’s essential to know what you’re up against before you proceed. A pre-sue report can give you invaluable insights into a potential defendant’s financial situation, saving you time, money, and frustration.
With the help of a professional private investigator, you can make an informed decision on whether to pursue a lawsuit or negotiate a different course of action. To discuss your needs and get started with a pre-sue report, get in touch with us today – give us a call on 01772 334700 and we can get the ball rolling on your report.