Disappearance to Recovery: Tools for Finding Debtors and Assessing Assets

In debt collection, finding hard-to-locate debtors is a major challenge. Approximately 30% of debt goes uncollected each year in the Uk, costing businesses and individuals hundreds of millions of pounds as debtors become unreachable or disappear. At Nextgen Debt Recovery we use advanced tools and techniques to track these individuals and determine their ability to repay their debts.

One of our primary methods is tracing services, which helps us locate debtors by gathering information from various sources, including public records, social media, and credit reports. This allows us to find updated contact details quickly. Accessing public records is vital, as it provides insights into property ownership and other assets that debtors may have.

To understand a debtor's financial situation, we use financial analysis tools that reveal their income, employment history, and spending habits. Credit reports also play a crucial role in our assessment, showing us outstanding debts and payment histories, which help us gauge their willingness to repay.

In today's digital world, social media is a powerful tool for tracking down individuals. By monitoring social platforms, we can gather information about a debtor's activities and connections, leading us to valuable insights that traditional methods might miss. Additionally, we utilise asset discovery tools to uncover hidden assets or income streams that debtors may not disclose, such as bank accounts, vehicles and crypto currencies.

The impact of uncollected debt is significant, affecting not only individual creditors but also the economy as a whole. The estimated 30% of uncollected debts can severely hinder cash flow for businesses, leading to losses of hundreds of millions of pounds.

By combining advanced technology and a comprehensive approach, Nextgen Debt Recovery increases the likelihood of locating debtors and assessing their ability to repay. Our commitment to effective debt recovery solutions helps clients navigate their options and find fair repayment plans.