Do you suspect that someone has assets abroad, even though they are in receipt of a social welfare payment in the Netherlands? Or has a client relocated to another country even though it still has outstanding debts in the Netherlands? If so, then Verifast has the ultimate solution for you! We perform global asset tracing, from Morocco to Poland and from Turkey to the United States. Verifast helps public bodies and financial institutions to vet welfare payments and/or accounts receivable and it excels at individual cases. Of course, this always entails delicate matters and tailored work. Would you like to discover what Verifast can do for you? If so, please contact us to discuss your options.
We understand that you will want to substantiate your suspicion as soon as possible. That's why Verifast collaborates with teams of experts employed both within our own organisation and by our international partners. They will ensure that you receive an official report containing the tracing results within 2 weeks.
If a social welfare payment is being made to a client and you suspect that foreign income or assets were not disclosed, then Verifast can confirm or disprove your suspicions. We can do so by checking new applications, existing payments or payments already recovered. These checks will be tailored to serve the purpose. In the case of new applications a quick scan can be carried out to detect any indications of income or assets. The applicant can then be confronted with these indications. If a claim is to be withdrawn and recovered, the payment issuer will often require proof of the existence of income or assets. In that case official statements and valuation reports may be provided.
Financial institutions are regularly faced with clients who disappear abroad while they still have an outstanding debt. Due to falling house prices the collateral raised from foreclosure is often less than the outstanding debt and as a result, financial institutions are left with residual debt. Verifast can assist financial institutions in a variety of ways. We can trace debtors living abroad and we can investigate whether the debtor has any foreign income or assets. Based on this information, the financial institution can decide whether it wishes to take further action against the debtor.
Depending on the legislation and regulations in the country where the investigation is performed, Verifast can trace the following items:
The contents of the investigation depend on the client's needs. In some cases a quick scan is carried out, while in other cases an in-depth investigation – which includes gathering proof – is carried out. This may involve a large number of debtors are a single, specific case. In addition to performing asset tracing for private individuals, Verifast also provides the option to perform asset tracing for legal entities abroad.
The cost of performing asset tracing abroad depends on a number of factors, including:
Verifast offers its services on the basis of two models. Under the regular model you pay a fixed amount for each investigation carried out Verifast can also perform asset tracing abroad on a no-cure-no-pay basis. This means you only pay for our services if we identify income or assets abroad. If you indicate which service your organisation is looking for, we will be happy to send you an appropriate quote straight away.
Since abuse of the social welfare system affects public support and can cause a considerable drain on government budgets, the government has an increasing need to verify the legitimacy of social welfare payments. And due to globalisation assistance is increasingly required in the financial sector, in order to trace and investigate those people who have left the Netherlands even though they still have an outstanding mortgage or another debt here. These issues form the basis for the foundation of Verifast. Our expertise comes from over 30 years experience at a renowned bailiff company. As a global player in international asset tracing, Verifast has discovered that welfare applications can be declined, payments can be stopped or outstanding debts can be collected in 1 in 5 cases, on average.