If you lend someone money, then you do so in hope that they are going to be able to pay it back to you quickly and with minimal fuss. Whilst this is often the case, there are times when things don’t work out as they should and you could be at risk of losing the money that you are owed forever.
When things start to go wrong, there are a number of things that you can do and one them is employment tracing.
What is employment tracing?
Employment tracing can be used to trace the employers of a debtor and obtain certain information that can then be used to recover the money that is owed to you. You can use employment tracing as a way to find out the current employment status of a debtor. You can also use the information gained during this type of operation as a way to ascertain what they earn.
Is there anything else you can find out during employment tracing?
There is lots of information that you can find out during employment tracing. You can find out whether a debtor is self-employed or employed as well as whether or not they are in receipt of any state benefits.
You can also confirm the status of the person in question within the business, such as whether they are a director. Once you have this information you can enforce an attachment of earnings order which will help you to be able to get the money that you are owed.