The thought of conducting a hidden asset investigation can send shivers up the spine of any Investigator. The word “hidden, “certainly conjures up thoughts that the assets cannot be found because they were intentionally hidden. Sometimes this is true, while other times the assets are simply not in a convenient place for us to find them. There are a variety of reasons for conducting hidden asset investigations – divorce cases, child support modification, judgment recovery, pre-litigation investigations and some business dealings.
There are many aspects to a person’s financial picture; current and previous addresses, corporations and businesses, vehicles, employment history and family members. One aspect that many Investigators neglect to check while conducting an asset investigation is the person’s liabilities. Such as mortgages, liens, litigation history and judgments one may have against them. Many times a wealth of asset information can be obtained based on what a person owes.
The other aspect of an asset investigation many investigators neglect to research is for hidden or un-disclosed bank and brokerage accounts. What’s reason for this omission? Many Investigators do not understand the rules and regulations restricting the research of such accounts.
Since November 1999, it has been illegal to ask for or obtain financial information through the use of pretext or deception (Gramm-Leach-Bliley Act). Effective July 1, 2001 it has been illegal to obtain any information from a credit report including the so-called, “public header” without a legal purpose as defined by the Fair Credit Reporting Act. Together the GLB Act and the FCRA allow disclosure of financial information for collection matters, judgments, child support enforcement and matrimonial cases.
Our bank and brokerage account searches are conducted in full compliance with the GLB Act, FCRA and all other state and local laws and regulations. You will receive a report with the institution’s name and address, type of account, name(s)on the account(s) and if available the account number(s) and possibly the amount in the account(s). Some requests for financial research require additional authorizations.
Our asset investigations include searching everything from property to bank accounts. We can also conduct surveillance to determine where a person is employed. If needed, we will also obtain copies of courts records, property transactions and liens on property and vehicle