Focus on... Tracing - locating gone away debtors and hidden assets

Our strength is our field force of regional managers (Franchise Owners), all of whom are skilled and experienced in the art of tracing. We differ from many traditional agencies in that we do not rely purely on database enquiries... why have a field force and keep them shut away! Our managers always attend at the last known address of the subject and begin their enquiries by speaking to occupiers, neighbours, etc. always discreetly and always within current legislation. We follow the trail, wherever it may lead, and keep going until we have an answer. We are succesful in the majority of cases and there is a certain amount of satisfaction, for us and you, in our finding that person that just didn't want to be found.

Fraudsters traced and taken to court

London House were asked recently to confirm the residence of a male subject who we believed to be using different names in an effort to hide.

Our trace enquiries began with a series of telephone and database investigations before we visited the subjects property discreetly so as not to alert the occupiers.

 At the address we were met at the door by a lady who confirmed her identification as Mrs X and that she lived at the address with her husband Mr Y (a different surname) and her son, Mr Z (a further surname). We confirmed our understanding with Mrs X and told her we would call her if we needed any further information. We telephoned later and she again confirmed her earlier comments. When asked about middle initials she supplied those for her husband and her alleged son. These matched the details we had discovered on databases. Our investigations had also confirmed that both adult male names had the same date of birth.

Reviewing the information supplied by our clients and the results of our own investigations, we were firmly of the opinion that the two males with different surnames were in fact one and the same person. Our suspicions were confirmed when Mrs X phoned us later, after a period of reflection perhaps, to ask how we knew to call at her address as only the surname Y was used on records and documentation. We were able to supply our clients with a detailed statement suitable as evidence in court.

Mrs X and Mr Y have been found out. As investigators we know to never assume that things are as they seem.

London House news [Nov. '10]

As ever, it is a busy time at London House. We have just finished training a new franchise owner (Marc Borgia in East Surrey & Mid Sussex) and we are delighted to say he has successfully passed his exam.

 When a new franchise owner joins us, they visit us at our Head Office for a 2 week residential training programme. This is a very comprehensive course covering all aspects of the work that we do, the Court system, Data Protection, and the law, amongst many other areas. This training culminates in a written exam (which the new franchise owner must pass before we sign them off). In the meantime, we ensure that they have in place the necessary insurances, register for Data Protection, obtain a Consumer Credit Licence and become a member of The Credit Services Association (thereby working to a published Code of Practice).

We are also quickly approaching our annual Franchise Owner Conference which will again be held in the wonderful surroundings of Whittlebury Hall. Each year our franchise owners join us to hear presentations from clients and industry experts, share best practices and keep up to date with developments at London House.

Godfrey Lancashire

Access to Credit Reports

Consumers can now access their statutory credit report online for a nominal fee of only £2 from all three major UK credit reference agencies: Experian, Equifax and Callcredit.

An agreement between the Department for Business, Innovation and Skills and the industry means consumers will now have easier access to their credit reports.

Continued free access to credit reports for victims of ID fraud and the financially vulnerable has also been secured by the government.

Credit reference agencies and consumer groups have committed to work together to raise awareness of the importance of checking credit records.

Consumer Minister Edward Davey said: “These are highly beneficial changes. All consumers now have easier access to their £2 statutory credit reports, with victims of ID fraud and the financially vulnerable receiving free access to their reports. These significant improvements will help consumers take better control of their finances.”

Postcode Insolvency

R3, the insolvency trade body, has published a ‘bankruptcy map’ revealing the regions and local authorities that have seen the highest proportion of new personal insolvency cases.

The bankruptcy map which looks at the number of new bankruptcies and Individual Voluntary Arrangements (IVAs) that occurred in England and Wales shows that the likelihood of becoming insolvent was almost seventy percent (69.5%) higher in the North East than in London. 

There were almost six thousand (5,923) new personal insolvency cases in the North East which means that for every ten thousand people, 29 of them became insolvent.

The figures indicate that people who live in London are least likely to go into a formal insolvency procedure. The average number of new cases in England is 24.3 per ten thousand - in London there were 17.1 new personal insolvency cases for every ten thousand people.

R3’s President, Steven Law commented: “Prior to the recession, the North East had a higher than average unemployment rate and the region’s construction industry was badly hit during the economic downturn so it is understandable that personal insolvencies are more common there.

Londoners are least likely to become insolvent as there are more employment opportunities in the region. Unfortunately, with the announcement of public sector job cuts, it is likely that the figures will worsen, especially in areas such as the North East where public sector employment is high.”

The top ten insolvency hot spots (new personal insolvency cases per 10,000):

• Torbay, South West (45.8)
• Kingston upon Hull and the Humber (40.7)
• Lincoln, East Midlands (39)
• Plymouth, South West (38.8)
• North Tyneside, North East (37.4)
• Gateshead, North East (37.1)
• Corby, East Midlands (37)
• Hastings, South East (36.9)
• West Devon, South West (36.9)
• Thurrock, East Anglia (36.7)

"Startled rabbits in the headlights of an uncertain future"

I’m not alone. Given the chance, wouldn’t we all like to predict the future. And in the last issue of the Score, it would appear that is exactly what I did. I suggested that the worst all results would be a hung Parliament.

So am I trying so say there’s no political solution to the mire we are all wading through? I suppose I am. Do I think the radical policies of the current administration will achieve the projections? I honestly don’t know.

What I do know is that we’ve been digging this hole for going on 20 years, working on the basis that as long as profit exceeded default and property prices continued their upward spiral, we could sustain lending levels and remain in the comfort zone we’ve built for ourselves in that period.

Due diligence, fiscal proberty, responsible borrowing and lending ... all phrases we associate with the halcyon days of banking before the brakes were taken off in the late eighties and the throttle opened up fully when Gordon Brown’s first act in office was to give the Bank of England self governance, including interest rates.

Unfortunately, gone are the generations that fully understand the meaning of such phrases. They are now being trotted out as soundbites for a public desperate to believe that the solution to all our woes lies with a Government that is full of good intentions and populist policies.

Government can only legislate. In other words, put the brakes back on, which appears to be exactly what the Budget and subsequent announcements presage. Was the FSA the sacrificial lamb, or the author of it’s own demise?

That debate will run and run.What is certain is that the banks are as startled rabbits in the headlights of an uncertain future.

To all intents and purposes they’ve stalled.Despite all the guarantees, they are still nervous. Alistair Darling’s attempt to fuel recovery have by and large come to nought. Loan to Value rates remain fixed, businesses in particular are finding access to credit scant to say the least,and even the banks themselves seem reluctant to instruct collection and investigation agencies to the extent they once did.

Like many of their customer base, they too are adopting the ostrich stance. They don’t want to look into their portfolios because they already know that they will very definitely not like what they’ll see.

Perhaps the most unacceptable outcome of the last two years is that it was greed that engendered the recession, and it will probably be greed that starts any recovery.

However when that will be is anyone’s guess.That fabled double dip is now making its presence felt - the black dog on the end of the bed, as Winston Churchill described his depression.

by Godfrey Lancashire