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  1. #1
    Join Date
    Aug 2013
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    Default Can All of a Person's Financial Information Be Discovered

    My question involves personal finance in the State of: VA

    So just trying to understand and learn about personal protection.

    Can an attorney run a asset report on an individual to find out all information related to their financial situation?

    Like if they are planning to sue someone, where they stand in terms of their house, mortgage, bank account, assets and all?

    Thanks for any of your input and help.

  2. #2
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    Default Re: Can All Financial Information Be Discovered

    Can an attorney run a asset report on an individual to find out all information related to their financial situation?
    I wouldn't say "all" but a lot of your personal financial information is available and/or can be inferred by other available information.

    Like if they are planning to sue someone, where they stand in terms of their house, mortgage, bank account, assets and all?
    House - home ownership is recorded and is public record.

    Mortgage - your mortgage is also recorded and is public record.

    Bank accounts - generally not available without a court order. But your financial worth might be guessed by your life style.

    Cars - can be seen in or around your home and can provide a hint about your financial status.

    Employment - can be determined by having you followed to work and a pretext call to your employer can glean some information about your employment status.

    Credit report - Depending on who is suing and why, your credit report may be available.

    In addition to all that, google your name and you'll be amazed at everything that is out there about you.

    Bottom line, there is not privacy or personal protection anymore. Avoid doing anything for which you can be sued.

  3. #3
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    Default Re: Can All Financial Information Be Discovered

    Quote Quoting adjusterjack
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    I wouldn't say "all" but a lot of your personal financial information is available and/or can be inferred by other available information.
    House - home ownership is recorded and is public record.
    Even if I have made it hidden on county's portal, still can anyone find about it?
    Mortgage - your mortgage is also recorded and is public record.
    Can anyone know how much is pending balance or who is the issuer?
    Credit report - Depending on who is suing and why, your credit report may be available.
    If you know, under what circumstances that information is available or can be obtained by someone?
    Bottom line, there is not privacy or personal protection anymore. Avoid doing anything for which you can be sued.
    Absolutely and totally, was wondering about it and hence posting this question, is umbrella policy worth it? Like paying $50 a month can payoff in the long term?

    Thanks for all the help.

  4. #4
    Join Date
    Oct 2016
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    Default Re: Can All Financial Information Be Discovered

    Quote Quoting faran
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    Even if I have made it hidden on county's portal, still can anyone find about it?

    Can anyone know how much is pending balance or who is the issuer?

    If you know, under what circumstances that information is available or can be obtained by someone?


    Absolutely and totally, was wondering about it and hence posting this question, is umbrella policy worth it? Like paying $50 a month can payoff in the long term?

    Thanks for all the help.
    It is't hidden on the county portal. It is a record that anyone can walk in look at.

    The mortgage (and everything on it) is public record. It isn't hard to do the math.

    What does an umbrella insurance policy have to do with anything you asked?

  5. #5
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    Aug 2013
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    Default Re: Can All Financial Information Be Discovered

    Quote Quoting PayrolGuy
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    It is't hidden on the county portal. It is a record that anyone can walk in look at.

    The mortgage (and everything on it) is public record. It isn't hard to do the math.

    What does an umbrella insurance policy have to do with anything you asked?
    Thanks for the help. Umbrella insurance policy would help in case if someone is being sued or no it will have no affect?

    Or can anyone please elaborate on Avoid doing anything for which you can be sued.

  6. #6
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    Mar 2013
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    Default Re: Can All Financial Information Be Discovered

    is umbrella policy worth it? Like paying $50 a month can payoff in the long term? Umbrella insurance policy would help in case if someone is being sued
    An umbrella liability policy provides increased liability limits above the limits of your homeowner and auto liability coverage. Liability insurance protects you if your negligence injures somebody or damages their property or if somebody blames you for injuring them or damaging their property.

    $50 a month? That's $600 a year. I think you should shop around with several insurance companies and agents. I think there are better prices out there for it.

    Even if I have made it hidden on county's portal, still can anyone find about it?
    All I would need to know is where you live or what your name is and I can back track your home ownership and mortgage records.

    Can anyone know how much is pending balance or who is the issuer?
    Your mortgage records would show how much you borrowed and I could use an amortization calculator to extrapolate approximately how much you owe and I can use Zillow to find the approximate market value. Then combine the two to determine your equity. Not very accurately, I agree, but it would give me a good start.

    If you know, under what circumstances that information is available or can be obtained by someone?
    If you are being sued by a creditor for a debt, the creditor would have a lawful reason to run your credit report. If you are being sued for negligence, maybe not, but with sufficient liability coverage you wouldn't have to worry too much about a negligence lawsuit.

    Or can anyone please elaborate on Avoid doing anything for which you can be sued.
    Don't run up debts you can't pay. Drive carefully. A lot of that is just common sense.

  7. #7
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    Jul 2010
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    Default Re: Can All Financial Information Be Discovered

    Quote Quoting adjusterjack
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    $50 a month? That's $600 a year. I think you should shop around with several insurance companies and agents. I think there are better prices out there for it.
    Depending on the amount, definitely. I pay right around $200/yr for a $1M umbrella policy. That may still be a little high, I don't know. I'm comfortable paying it though.

  8. #8
    Join Date
    Aug 2013
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    25

    Default Re: Can All Financial Information Be Discovered

    adjusterjack, thanks for your response and clarification.

    I am going to shop around for an umbrella policy for peace of mind.

  9. #9
    Join Date
    Oct 2016
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    2,651

    Default Re: Can All Financial Information Be Discovered

    As you shop you need to fully understand what the umbrella policy covers. In most cases it just increases the coverage you already have and may not increase the coverage of ALL policies you have.

    If you would tell us what sort of lawsuit your fear we could likely help you more.

  10. #10
    Join Date
    Aug 2013
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    Default Re: Can All Financial Information Be Discovered

    Quote Quoting PayrolGuy
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    As you shop you need to fully understand what the umbrella policy covers. In most cases it just increases the coverage you already have and may not increase the coverage of ALL policies you have.

    If you would tell us what sort of lawsuit your fear we could likely help you more.
    In terms of lawsuit, I don't really have a particular kind in mind.

    Since you mentioned, would law suit arising from medical bills or libel or anything would fall under umbrella or no? Fortunately, I don't have any of those at the moment.

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