ASSET TRACING & DEBT RECOVERY SERVICES
Asset Tracing:
To put it simply, asset tracing is the process by which investigators “follow the money.” Investigators trace assets by conducting financial investigations, during which they determine a subject’s assets, examine the revenue generated by criminal activity, and follow its trail.
Debt Recovery:
Debt recovery is when a loan such as a credit card balance continues to go unpaid, and a creditor hires a third party, known as a collection service, to focus on collecting the money. Debt recovery is important because it is directly correlated to your credit score.
Before we delve into the topic of “Asset Tracing and Debt Recovery Services in Lagos” let’s define both terms.
Asset Tracing:
To put it simply, asset tracing is the process by which investigators “follow the money.” Investigators trace assets by conducting financial investigations, during which they determine a subject’s assets, examine the revenue generated by criminal activity, and follow its trail.
Debt Recovery:
Debt recovery is when a loan such as a credit card balance continues to go unpaid, and a creditor hires a third party, known as a collection service, to focus on collecting the money. Debt recovery is important because it is directly correlated to your credit score.
Clients are often faced with the decision to pursue debt or write it off. Our asset tracing service provides an avenue to make an informed decision whether or not it is commercially viable to pursue debt and choose the right course of action in recovering the outstanding sum. We provide asset tracing and debt recovery services in Lagos as one of our core competencies to clients across a range of public and private industry sectors.
Our investigations include working with tracing and enquiry agents, online desktop investigations inclusive of Corporate Affairs Commission, Land Registries and Credit Bureau amongst others.
We inform our clients of the relevant commercial and public law considerations and apply our findings to determine the best course of action to recover the debt. These options can include restructuring of loan, payment plans, winding up petitions, bankruptcy orders, charging orders and/or attachment of earning/property orders.
We deal with all aspects of the legal process, from advising about recovery options and pre-action correspondences to issuing proceedings through to enforcement.
Our team of astute lawyers work on high profile Asset Tracing and Debt Recovery enforcement against different corporate bodies and individuals. Overall, we have traced assets worth over 30 billion Naira.