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#1 - F.A.C.E. TIME WITH JUDGMENTS

Find Assets to Collect and Enforce

TASA ID: 3877

PACER: Cycle the debtor through PACER to determine if the debtor filed bankruptcy.

COUNTY RECORDER: Cycle the debtor through the grantor/grantee index to locate a potential sale of the debtor’s real property, bulk sale of personal property, or other liens and levies including taxing authorities.  Watch for suspicious liens.

COURT CLERK: Cycle the debtor through the civil case docket to locate other case against the debtor or the case in favor the debtor.

SECRETARY OF STATE: Cycle the debtor through the UCC division to locate any recently filed judgment or UCC liens, release of liens, or suspicious lien.  Cycle the debtor the corporate/LLC search section to locate a new formed entity that mirrors the name of the debtor.  Reconfirm the name of the debtor.

CLERK OF THE COUNTY [OR CITY]: Locate any filed fictitious name statements that are identical to, or closely aligned, with the debtor.  These entities might be a fraudulent conveyee of the debtor who might have transferred assets to the conveyee.

EDGAR/USPTO/LICENSING/CITY BUSINESS LICENSE: EDGAR is the search site for SEC filings.  USPTO is the US agency for trademarks and copyrights. Licensing is all state and federal license to engage in a business or trade.  City business licenses are requirements of nearly every county and city.  Any change of ownership would be reflected in filings with these entities.

LIENS GONE WILD: Record the abstract with the county recorder.  Record the Personal Property Lien with the Secretary of State.  Issue the Exam Order that might impose a lien when service from the date of issuance for one year. Pursue a charging order, which imposes a lien.  Record liens against suits against third parties. A levy imposes a lien.  Liens older than 90 days beat out a bankruptcy preference.

LEVIES GONE WILD: Levy the known bank account. Do a mass levy of every bank, stockbroker, securities house, online financial institution (PayPal), discount broker, merchant bank and credit card clearing house.  Install a keeper. Levy on the equipment, cars and entire businesses.  Levy receivable and notes.  Levy and sell homes and commercial property.

DEBTOR’S EXAM GONE WILD: Subpoena financial records from banks and vendors who made loans and paperwork from the accountant.  Bring a court reporter.  Turnover at the conclusion of the debtor's examination. Think 3rd party OEX's and subpoena.

ASSIGNMENT ORDERS GONE WILD:  Reach IP royalties, rents, commissions, contingency fees, payment stream, account receivable, or insurance due the debtor. Consider mass mailings.

TASA Article Disclaimer

This article discusses issues of general interest and does not give any specific legal or business advice pertaining to any specific circumstances.  Before acting upon any of its information, you should obtain appropriate advice from a lawyer or other qualified professional.

This article may not be duplicated, altered, distributed, saved, incorporated into another document or website, or otherwise modified without the permission of TASA and the author (TASA ID#: 3877). Contact marketing@tasanet.com for any questions.


 

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