How to collect a debt
Discussion
I bought a new van Last March 2018.
I traded my old van in against it.
I also paid for the VAT deposit in full and the finance from the Finance company paid the rest of the van.
After paying off the finance they should have transferred the equity £4200 to my Company Account. This wasn't done.
I forgot all about this and wondered why i seemed a little short all year.
Anyway its now been hi-lighted in my end of year accounts and now I'm chasing.
the company doesnt deal with the public directly any more and now only does the customized vans for the Trust Ford Group. None of their old numbers work and I have only managed to speak on eth mobile phone of the Sales man. he wont give me the number of the finance lady saying that it is only her private mobile but he is being very helpful in every other regard or is appearing to be so.
I feel like im being taken for a ride
I want my money back.
Can i charge interest, can i turn up out of the blue and refuse to go until they give me my money...what s thebest step. I feel like this could drag on and Im starting to get angry about it
I traded my old van in against it.
I also paid for the VAT deposit in full and the finance from the Finance company paid the rest of the van.
After paying off the finance they should have transferred the equity £4200 to my Company Account. This wasn't done.
I forgot all about this and wondered why i seemed a little short all year.
Anyway its now been hi-lighted in my end of year accounts and now I'm chasing.
the company doesnt deal with the public directly any more and now only does the customized vans for the Trust Ford Group. None of their old numbers work and I have only managed to speak on eth mobile phone of the Sales man. he wont give me the number of the finance lady saying that it is only her private mobile but he is being very helpful in every other regard or is appearing to be so.
I feel like im being taken for a ride
I want my money back.
Can i charge interest, can i turn up out of the blue and refuse to go until they give me my money...what s thebest step. I feel like this could drag on and Im starting to get angry about it
Sounds a poor position to be in. Personally I would send a letter saying how much I am owed and where they can pay it into and state that t must be paid in 14 days. If no response I would go round and make a scene if they still won’t sort it out the only last option is open a legal case against them.
If you still have the original contract, I am sure you will find the interest rate that they would have charged you, if you had been late with payments.
In the very early 90s, when construction was going tits up, the company I was working had a 6-figure sum owed by a PLC. We happened employed a huge guy who had certain hygiene issues. We sent him over to Leeds to collect a cheque. He was told that only the Finance director could sign for the amount. He said “no problem”, he would wait in their fancy foyer.
After about an hour the Finace Director showed up, gave him the cheque, and showed him the door.
2-days after the cheque cleared, the company went bust, we were still owed a much smaller sum.
Another time we were owed a smaller amount by a smaller company. Our guy clamped the owner director’s car. He came out desperate to get to a meeting, and said “fair-game”. He wrote the cheque there and then, our guy removed the clamp.
The cheque bounced. You can’t win them all, but they are all worth chasing.
In the very early 90s, when construction was going tits up, the company I was working had a 6-figure sum owed by a PLC. We happened employed a huge guy who had certain hygiene issues. We sent him over to Leeds to collect a cheque. He was told that only the Finance director could sign for the amount. He said “no problem”, he would wait in their fancy foyer.
After about an hour the Finace Director showed up, gave him the cheque, and showed him the door.
2-days after the cheque cleared, the company went bust, we were still owed a much smaller sum.
Another time we were owed a smaller amount by a smaller company. Our guy clamped the owner director’s car. He came out desperate to get to a meeting, and said “fair-game”. He wrote the cheque there and then, our guy removed the clamp.
The cheque bounced. You can’t win them all, but they are all worth chasing.
Crippo said:
Thanks for the replies.
I want to focus their minds by adding interest if the debt isn’t settled within 7 or 4 days but not sure that I can arbitrarily add costs.
Don't bother trying to think how much interest to add. As the other poster says, just start the court process. The first step is to send them a pre-action letter giving them x days to respond. There are lots of templates online to help ensure it contains the right info. I want to focus their minds by adding interest if the debt isn’t settled within 7 or 4 days but not sure that I can arbitrarily add costs.
If your pre-action letter doesn't get their attention (and most likely it will), when the court papers land on their desk together with the mandatory timeline to respond, you can be sure the papers will very soon get to the right person in the company.
Apply for a CCJ. Takes 5 minutes.
https://www.moneyclaim.gov.uk/web/mcol/welcome
Send them pdf's of the documents. Most will respond quickly as CCJ on record is a pain in the ass. And not worth their time to defend.
It's probably their SOP to wait for the claim.
https://www.moneyclaim.gov.uk/web/mcol/welcome
Send them pdf's of the documents. Most will respond quickly as CCJ on record is a pain in the ass. And not worth their time to defend.
It's probably their SOP to wait for the claim.
What’s the next step after a CCJ.
I took somebody to court, only £400 but it was the principal, he filled in the court forms saying he only had £850 disposable income left every month, and offered me £25 a month.
Once I’d stopped laughing I sent back the form to the court saying no, not accepting that, so the CCJ issued.
Since then, over 4 months, nothing, not a sign of any money, what’s the plan of action next.
I took somebody to court, only £400 but it was the principal, he filled in the court forms saying he only had £850 disposable income left every month, and offered me £25 a month.
Once I’d stopped laughing I sent back the form to the court saying no, not accepting that, so the CCJ issued.
Since then, over 4 months, nothing, not a sign of any money, what’s the plan of action next.
I honestly don't know what happens next. So probably shouldn't be offering advice! Maybe high court bailiffs or something like that.
I've only done it to speed up B2B payment. I think I've done about 10 times. 9 paid without further action, and I just wrote off the 1 that didn't roll over.
For me personally, the main power of the CCJ is that it hurts the credit record. So if the debtor's credit is screwed, then it probably has less power.
But I probably should have kept quiet as I don't really have much experience tbh.
I've only done it to speed up B2B payment. I think I've done about 10 times. 9 paid without further action, and I just wrote off the 1 that didn't roll over.
For me personally, the main power of the CCJ is that it hurts the credit record. So if the debtor's credit is screwed, then it probably has less power.
But I probably should have kept quiet as I don't really have much experience tbh.
Small claims court, get yourself a good agent to go and collect it - ours has been successful although there's a few who have taken us for a decent chunk of cash (our fault for offering too much credit) and have gone bust in spectacular fashion - lesson learnt, and a painful one at that!
sambucket said:
Apply for a CCJ. Takes 5 minutes.
https://www.moneyclaim.gov.uk/web/mcol/welcome
Send them pdf's of the documents. Most will respond quickly as CCJ on record is a pain in the ass. And not worth their time to defend.
It's probably their SOP to wait for the claim.
Good advice but be sure to send them a 7 day letter first. The Courts frown upon cases where the claimant failed to do so.https://www.moneyclaim.gov.uk/web/mcol/welcome
Send them pdf's of the documents. Most will respond quickly as CCJ on record is a pain in the ass. And not worth their time to defend.
It's probably their SOP to wait for the claim.
Good luck op.
Quattromaster said:
What’s the next step after a CCJ.
I took somebody to court, only £400 but it was the principal, he filled in the court forms saying he only had £850 disposable income left every month, and offered me £25 a month.
Once I’d stopped laughing I sent back the form to the court saying no, not accepting that, so the CCJ issued.
Since then, over 4 months, nothing, not a sign of any money, what’s the plan of action next.
Have a look here and get it up to the High Court for enforcementI took somebody to court, only £400 but it was the principal, he filled in the court forms saying he only had £850 disposable income left every month, and offered me £25 a month.
Once I’d stopped laughing I sent back the form to the court saying no, not accepting that, so the CCJ issued.
Since then, over 4 months, nothing, not a sign of any money, what’s the plan of action next.
https://www.gov.uk/make-court-claim-for-money/enfo...
Similar situation to OP.
I am in dispute with a supplier, the managing director of the Ltd. company is using her maiden name. If the matter was to go legal, would it be legally correct for her to sign documents in her maiden name, rather than her married name, as per details registered with Companies House.
I am in dispute with a supplier, the managing director of the Ltd. company is using her maiden name. If the matter was to go legal, would it be legally correct for her to sign documents in her maiden name, rather than her married name, as per details registered with Companies House.
bad company said:
sambucket said:
Apply for a CCJ. Takes 5 minutes.
https://www.moneyclaim.gov.uk/web/mcol/welcome
Send them pdf's of the documents. Most will respond quickly as CCJ on record is a pain in the ass. And not worth their time to defend.
It's probably their SOP to wait for the claim.
Good advice but be sure to send them a 7 day letter first. The Courts frown upon cases where the claimant failed to do so.https://www.moneyclaim.gov.uk/web/mcol/welcome
Send them pdf's of the documents. Most will respond quickly as CCJ on record is a pain in the ass. And not worth their time to defend.
It's probably their SOP to wait for the claim.
Good luck op.
With all this in mind, it is a very useful tool if you're in the right and the other party knows it.
I've used MCOL many times for personal and commercial debts and the win - lose ratio is 9/1 in favour of win
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