Finding Assets With Which to Collect

First of all, it is important to consider all sources of the debtors income. Aside from earned income, consider rental incomes, dividends and interest from stock ownership.

At first glance a debtor may appear lacking in assets, funds, and income, but diligence may often times show otherwise. For example, an individual may hide cash in the form of a bank account in the name of a company, child or spouse. There are several methods for locating a bank account, some of which can identify recently closed accounts and recent transactions including withdrawals and deposits. Regular inquiry, may reflect a pattern of withdrawals and deposits that show evidence of cash being transferred from another entity to an account that might have the option of locating the bank accounts and subpoenaing bank records.

Often assets, whether it be cash, real estate, or personal property, are moved to relatives, wife’s maiden name, or to in-laws, start with marital records. Find bank accounts or something to attach - a vehicle, real property or a house. These are all areas of legitimate inquiry during what is often referred to as a “debtor’s exam” - in Utah it is called a Motion and Order in Supplemental Proceedings.