Your Strategic Asset Location Partner

Bank Accounts, Brokerage Accounts
& Places of Employment Searches!

1-800-648-1914 Ext. 101

Call Now For Verified Searches!

For assistance call 1-800-648-1914 ext 101  

The definition of a “HIT” or completed results to be invoiced shall be defined as any open and valid bank or brokerage account regardless of account balance located by PROVIDER that is owned by the debtor. In addition, a “Hit” on a Verified POE to be invoiced shall be defined as the place of employment that is located by the Provider. Any Bank Account or Brokerage Account data that is determined to not be valid at the time of verification will be re-verified and credit will be issued if accounts are deemed to be closed prior to or on the date of verification or there was no account. POE’s will be re-verified and credit issued if it is deemed the debtor was not employed prior to or on the date of verification. Credits will be issued to the CLIENT, if CLIENT furnishes garnishment report within the guarantee time period from the date of verification for the service provided from the date of verification. A Credit is given when a Client receives a reply from the institution’s legal department indicating the account was “closed prior to verification date” or there was “no account” or Employer responds to court ordered garnishment that debtor was not employed on the date of verification and a re-verification by Provider of the data based on the information given by the Client corroborates the institution’s or employer’s findings. No re-verification can be performed without Provider being copied on the actual garnishment report. Garnishment reports must be dated within the allowable time frame of Provider’s guarantee. Credit may be taken either as a new and valid debtor garnishment hit or reimbursement to the CLIENT in the method it was paid to the PROVIDER. Except for Platinum Asset Discovery searches, credit or reimbursement is defined as Search Fees only as indicated on this Agreement. No other CLIENT fees related to GARNISHMENT DATA are reimbursable by PROVIDER including but not limited to filing, legal or execution of Garnishment. Reimbursement is only for Search Fees as indicated on this Agreement of Garnishment Data supplied by PROVIDER.

About the verification process

We verbally verify every account with the exception of those institutions that only provide confirmation digitally. It is important to note and to remember that there are an array of variables that come into play as to why you may get an account returned.
  1. In some cases of verification, our verifiers are dependent on tellers from a local branch. This sometimes poses a problem because though we are asking for confirmation on the presence of a checking or savings account, the teller may be looking at a preliminary screen whereby it simply indicates that the consumer has an account but is not specific as to what type of account it is. In the cases where we have found the information to be incorrect, we have determined that indeed the consumer has an account there but it may be a money market account or even a certificate of deposit as opposed to a checking or savings account. We diligently try to make sure that the teller is specific with their response.
  2. Another issue that we have encountered is when at the point of verification (whether it be verbal or digital), we are told that the account is open when in fact the account is closed. Under this circumstance we have found that the lending institution had acquired one or more lending institutions and had failed to properly transfer an account status to the new entity, thus having the appearance that the account is open when in reality it is not. We do not find this to be a major problem but we do find it to be a occasional issue.
  3. The third possibility is in the case of possible fraud. Our primary objective during the verification process is to verify that the consumer has an account and that we are able to verify it by Name and SSN. What we have found in a few cases is that at the point of verification the lending institution has focused on the SSN and not the name (thus giving us a confirmed verification), and in those cases we were able to determine that the name and SSN provided by our client was inaccurate, thus indicating that there was possible fraud.
All three of the above referenced circumstances reflect 95% of the returns that we receive, the other 5% is human error on our part. Having said that, however, our overall return rate is still only approximately 2%.