How a Pre-Sue Report Can Help?
Posted on 8th July 2021 at 10:28
With a pre-sue report, it is possible to identify if an individual or business is capable of repaying any debt owed by them to you. Getting a pre-sue/ pre-litigation report helps to confirm the debtor's overall financial situation and will reveal if it is worth going to court for the enforcement of any legally awarded judgment. In short, a pre-sue report is the best option to confirm if a debt is recoverable.
Having a pre-sue report helps to know a debtor’s financial status accurately and their overall creditworthiness. Obtaining such specific information is extremely helpful in recovering outstanding debts because if the debtor is not creditworthy with a very poor financial standing, then the costs of legal actions may not prove viable.
Since the report is a comprehensive and balanced assessment, it will keep you well informed about the steps to be taken to recover your debt.
Ways in which a pre-sue report helps in debt recovery
Having access to detailed information that is derived from a pre-sue report enables a creditor to make a cost effective with regards to the recovery of any outstanding debts. Once it is confirmed that the debtor is financially viable to make repayments money owed either through fixed or liquid assets, it becomes viable to pursue the debt through legal processes.
In cases of small businesses where debtors have stopped taking the pre-sue report can help you find whether they are still operational with the financial resources to repay you. Then a decision can be made to pursue a case against them in the civil court to recover monies due.
On the other hand a pre-sue report will also help confirm if the debtor is unlikely to be able to meet your debt. Although this may be disappointing it will prevent wasting more money on pursuing a case through the courts.
Benefits of a pre-sue report
There are several benefits of using a pre-sue report for the recovery of debt. Having detailed information about the individual or company gives you a clear picture of the viability of entering into any business relationship with them. You need only to purchase a report and not waste any more valuable time on this. The report is generally received within 7 business days after which you can make your informed decision.
A major plus point of purchasing a pre-sue report is that the agency that provides the report has financial experts with unique access to large databases and data which enables them to evaluate your potential debtor.
Having a professional agency of experts with years of experience in investigating and research will ensure that you get a thoroughly vetted and accurate report.
For further details of how we can help please contact us: info@ccsnationwide.co.uk
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