Debt recovery for small businesses

[JOGAMIGMOG]

I run a small business in Salford and we have about 15 or so customers who are shit at paying their bills! We have used a debt management company in the past but they proved useless. Does anyone use a decent company who they could recommend? Preferably I'd prefer a commission basis rather than an upfront payment. I don't mind if they have a reputation for knocking down doors and beating people up either as most of our customers are Rags! :)

Cheers peeps.

 

[The Fixer]

<a class="postlink" href="http://www.danielssilverman.co.uk/services.php" onclick="window.open(this.href);return false;">http://www.danielssilverman.co.uk/services.php</a> very good at what they do mate, you only pay them if they recover your debt(s) they won't go round banging ppl out but they will work hard on your behalf cos if they don't get ya dosh in they don't earn a carrot. My mate runs a business with bad debtors and these guys bring him the dosh. Hope this helps pal.

 

[Grumpy]

Bailiffs are the scum of the earth.

 

[TINY]

Bailiffs are the scum of the earth.

It has to get a long way and a lot of ignoring and failing to deal with things before bailiffs get involved.

 

[Grumpy]

Possibly, but they still make money from other peoples misfortune and misery.

 

[TINY]

Possibly, but they still make money from other peoples misfortune and misery.

But if they dealt with the problem earlier it wouldnt get that far. It's a job that has to be done, as most people that bailiffs deal with are wont rather than cant pays.

 

[scall11]

Baliffs are only trying to get back money owed to them. Say you rack up a load of credit card bills, then the credit card company have every right to send in the baliffs if you don't pay the money back.

How much are we talking about? I had one customer owe me a few hundred quid and he kept stalling for months and months. So I had a look at:
<a class="postlink" href="http://www.payontime.co.uk" onclick="window.open(this.href);return false;">http://www.payontime.co.uk</a>

Got some tips on how to write to them, charging interested based on Bank of England base rates etc, and the legal terms to use, threaten with Small Claims Court etc...he paid within the week.

 

[Ducado]

The only people who can recover a debt (legally) are Court appointed bailiffs, debt management companies have as much power to recover a debt as anyone on this forum.

 

[TINY]

The only people who can recover a debt (legally) are Court appointed bailiffs, debt management companies have as much power to recover a debt as anyone on this forum.

depends how you define recover a debt. If you mean going into a property and recovering items to the value of the debt, then you are correct. However if you mean writing to debtors, having a debt collector call round to a debtors house or sueing someone and getting charging order, AOE etc then no, bailiffs arent the only way to go. And debt recovery companies have to have a consumer credit licence, something Im sure not many people on here have.

 

[Ducado]

The only people who can recover a debt (legally) are Court appointed bailiffs, debt management companies have as much power to recover a debt as anyone on this forum.

depends how you define recover a debt. If you mean going into a property and recovering items to the value of the debt, then you are correct. However if you mean writing to debtors, having a debt collector call round to a debtors house or sueing someone and getting charging order, AOE etc then no, bailiffs arent the only way to go. And debt recovery companies have to have a consumer credit licence, something Im sure not many people on here have.

Still boils down to getting a court to enforce, yes they can write letters (and lots of them see the Private Parking thread) I am not saying they are useless as many small businesses suffer because of late and none payment and there is legislation which is not used much to ensure this does not happen, I have dealt with many companies that use factoring as a way around this, I don't know how expensive it is but I guess it keeps the money coming in.