Thursday, 16 November 2017

Free Company Snooping

A judgment for debt is only as valuable as the ability of the debtor to settle it. That's why I implore you to make enquiries about the financial stability of the debtor before taking the risk of pouring good money down the litigation drain. Searching the Register of Judgments, Orders and Fines run by Registry Trust  for details of High Court and County Court judgments against the debtor which remain unpaid and with credit reference agencies are cheap ways of making those enquiries (see my book Breaking Law which I have not mentioned since breakfast).

And if it's a company which owes you money or you are just a nosey-parker, bless you, a new cheap way of getting some idea of their strength or lack of it - apart from obtaining copies of their accounts at Companies House - is to search the data on commercial and corporate ownership run by the Land Registry. The search would also enable you to identify properties at which you might want an enforcement agent or bailiff to seize goods or to figure in an application for a charging order to secure the debt.  The Land Registry holds details of 3.3 million freehold and leasehold properties in England and Wales owned by UK companies and corporations and  overseas companies. 

The big deal is that searching for this information has just become FREE! To register for the data go to https://data.landregistry.gov.uk