Almost got my money!!
Discussion
First post on this forum (I think) 
Bit of background info:
I have been a self employed plumber (industrial and commercial) for about 25 years now. Normally the companies I work for are pretty good, although it can take a couple of months to get paid but I accept that.
I recently (last summer) did some work for a company who have been around for many years.
Total invoice costs about £14k. 75% of that was materials and sub contractors so, I had to shell out a fair bit of money up front.
I was chasing them up for money in Sept/October and getting nowhere. They kept telling me they did not have the money to pay, but I would get every penny they owed very soon. This went on for weeks.
In November I decided to call in a debt collecting firm, (from PH btw) They have been very persistent in doing everything legally possible, and yesterday I received four cheques from the company concerned. One dated a few days ago, the others dated end of Feb, March and April. I just hope they stay afloat until the cheques all clear!!!
I am almost certain that I am the only creditor who has received any payment in the last 3 months, so I would like to thank the debt collecting firm publicly, if I'm allowed to do so?
So thanks!
Bit of background info:
I have been a self employed plumber (industrial and commercial) for about 25 years now. Normally the companies I work for are pretty good, although it can take a couple of months to get paid but I accept that.
I recently (last summer) did some work for a company who have been around for many years.
Total invoice costs about £14k. 75% of that was materials and sub contractors so, I had to shell out a fair bit of money up front.
I was chasing them up for money in Sept/October and getting nowhere. They kept telling me they did not have the money to pay, but I would get every penny they owed very soon. This went on for weeks.
In November I decided to call in a debt collecting firm, (from PH btw
) They have been very persistent in doing everything legally possible, and yesterday I received four cheques from the company concerned. One dated a few days ago, the others dated end of Feb, March and April. I just hope they stay afloat until the cheques all clear!!!I am almost certain that I am the only creditor who has received any payment in the last 3 months, so I would like to thank the debt collecting firm publicly, if I'm allowed to do so?
So thanks!
Edited by gtr-gaz on Sunday 27th January 18:26
Deva Link said:
I thought post dating a cheque was meaningless - you can just pay it in and it will be honoured (subject to the company having funds to cover it, of course)?
Banks don't like customers writing out post dated cheques. Why? Because they don't physically check every single cheque presented for payment so it is likely to go straight through the system unnoticed and be paid (if funds are available) without question. They are generally only made aware when the drawer of the cheque phones up to complain that they have paid the cheque and shouldn't have done. The bank will then usually say 'tough, you shouldn't write post dated cheques, so it's your fault'. However, in banking law it is the bank that is in the wrong - just don't expect them to admit it.Edited by restoman on Sunday 27th January 19:05
Nothing technically wrong with post dating cheques, as long as they are presented on or after the cheque date. To be fair to GTR-GAZ, we are the debt collection company he refers to , and thanks for the kind comments.
The Debtor in question is a real **** it has taken a lot of pressure and legal know how to even get them this far. I am quietly confident that all the cheques will clear and we would have recovered our clients funds. The reason the debtor has issued post dated cheques is to show goodwill, because they have been given a serious ultimatum that if our client is not paid we will wind the company up and a lot more besides. There is a lot of additional background to this case, that neither I nor GTR-GAZ wish to make public, save to say this is a real result.
The Debtor in question is a real **** it has taken a lot of pressure and legal know how to even get them this far. I am quietly confident that all the cheques will clear and we would have recovered our clients funds. The reason the debtor has issued post dated cheques is to show goodwill, because they have been given a serious ultimatum that if our client is not paid we will wind the company up and a lot more besides. There is a lot of additional background to this case, that neither I nor GTR-GAZ wish to make public, save to say this is a real result.
jamesuk28
Do you deal with cases that, perhaps, aren't clear cut? I took some kit onto a clients site (with their knowldge) and due to a mis-communication / mis-understanding on their part, tkey skipped it.
They are stating that they want original invoices for the kit, a statement to say that the kit belonged to my company, a photograph of the kit in situ and a whole bunch of other stuff.
I have an email from them stting that they will pay the cost of replacement but they've now changed their mind. Not sure of the best way to proceed.
Do you deal with cases that, perhaps, aren't clear cut? I took some kit onto a clients site (with their knowldge) and due to a mis-communication / mis-understanding on their part, tkey skipped it.
They are stating that they want original invoices for the kit, a statement to say that the kit belonged to my company, a photograph of the kit in situ and a whole bunch of other stuff.
I have an email from them stting that they will pay the cost of replacement but they've now changed their mind. Not sure of the best way to proceed.
Good luck!
I'm dealing with a client who has ignored my request for payment for a few months now.. always claiming some upstream client owes them a big lump, and I'll get paid as soon as they receive it.. the day after receiving my "pay in 7 days or else" letter he texts me "We're going to put the company in administration but we can pay you £500 as a goodwill gesture from XYZ Ltd.. can you fix our server as it's broken"
Where 'XYZ Ltd' is a similarly named company to his currently trading entity.. :argh:
I'm about done with dealing with small businesses to be honest! That's about six that I know of that are doing the phoenix shambles that's directly or indirectly affected me. If I run my own business for the next 40 years I vow to never do that to some other poor soul.
I'm dealing with a client who has ignored my request for payment for a few months now.. always claiming some upstream client owes them a big lump, and I'll get paid as soon as they receive it.. the day after receiving my "pay in 7 days or else" letter he texts me "We're going to put the company in administration but we can pay you £500 as a goodwill gesture from XYZ Ltd.. can you fix our server as it's broken"
Where 'XYZ Ltd' is a similarly named company to his currently trading entity.. :argh:
I'm about done with dealing with small businesses to be honest! That's about six that I know of that are doing the phoenix shambles that's directly or indirectly affected me. If I run my own business for the next 40 years I vow to never do that to some other poor soul.
ipsg.glf said:
jamesuk28
Do you deal with cases that, perhaps, aren't clear cut? I took some kit onto a clients site (with their knowldge) and due to a mis-communication / mis-understanding on their part, tkey skipped it.
They are stating that they want original invoices for the kit, a statement to say that the kit belonged to my company, a photograph of the kit in situ and a whole bunch of other stuff.
I have an email from them stting that they will pay the cost of replacement but they've now changed their mind. Not sure of the best way to proceed.
Hi, yep slightly tricky one. The company in question are quite rightly asking for proof of your claim, however their request for a photo of the kit in situ is clearly unreasonable (unless you go round photographing this type of thing on a regular basis)Do you deal with cases that, perhaps, aren't clear cut? I took some kit onto a clients site (with their knowldge) and due to a mis-communication / mis-understanding on their part, tkey skipped it.
They are stating that they want original invoices for the kit, a statement to say that the kit belonged to my company, a photograph of the kit in situ and a whole bunch of other stuff.
I have an email from them stting that they will pay the cost of replacement but they've now changed their mind. Not sure of the best way to proceed.
Feel free to email me and we can always see what we can do. We operate a "No collection no fee policy"
James
As to the other poster I believe you have already emailed me, and a response is on its way.
john_p said:
I'm about done with dealing with small businesses to be honest!
They're not all bad - I work from hom yet all my suppliers get paid on time and have been ever since I started in 1991. If they're very needy (struggling freelancer) or have done an exceptional job I may even pay early. Only gits like BT and other faceless corporations can wait a bit An update.
The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
gtr-gaz said:
An update.
The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
If it was marked RDPR (refer to drawer please represent) that means the bank are expecting funds at some stage and the cheque 'should' clear although there is no guarantee that it will.The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
If if was marked as RD (refer to drawer) it means they are not expecting funds and you can kiss your money goodbye.
Seems like there may still be hope
edited for spelling!
Edited by mogul on Saturday 5th April 19:49
gtr-gaz said:
An update.
The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
Gary, slightly cross with you that you did not contact me about this sooner. I did make clear that if you have any problem whatesoever regarding these cheques, that you should speak to me and we will swing back into action.The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
Please email me direct or through the site http://www.geminidebtrecovery.com
I need to know which account the cheques were from, ie a personal account or business account. If a business account they have just committed an offence.
Needless to say our aim is to recover ALL the funds not just what you may be happy to accept, so please email me ASAP.
Cheers Gary,
James
jamesuk28 said:
gtr-gaz said:
An update.
The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
Gary, slightly cross with you that you did not contact me about this sooner. I did make clear that if you have any problem whatesoever regarding these cheques, that you should speak to me and we will swing back into action.The first two cheques cleared, no problem. The third, which we were able to bank on the 28th March bounced last week.
My wife, who is a school secretary, has informed me that the fact that it has been re-presented to the bank and not sent straight back to us, gives us a ray of hope.
Is this normal procedure?
We have received half our total monies owed, which is more than I expected before bringing in the debt collectors, so I'm happier than I was before Xmas!
btw, I've never had a cheque bounce before!
Please email me direct or through the site http://www.geminidebtrecovery.com
I need to know which account the cheques were from, ie a personal account or business account. If a business account they have just committed an offence.
Needless to say our aim is to recover ALL the funds not just what you may be happy to accept, so please email me ASAP.
Cheers Gary,
James
As my wife said (and just been verified by Mogul) funds must be expected to cover the cheque, otherwise it would have been sent straight back to us!
If the cheque still does not clear, I will email you
btw, it was a company business cheque.
this should be a warning to those who offer clients credit.
We ended up in near liquidation a couple of years back due to bad debtors, we have to pay our subcontractors and expenditure and when people don't pay its usually the directors who foot the bill. last year we decided we had had enough of people who thought it acceptable to use services and not pay for them, we sat down with our bank commercial finance department and our accountants and formulated a proper credit control procedure including standard credit arrangements and contracts, debt collection and bad debt provision insurance. The reduction in bad debt has been the equivelent of getting another 25 percent in sales. we spend less time chasing bad debt and because we properly formalise our credit with clients they cannot claim they didn't know, we also do a good job now of formally credit checking new clients and setting credit limits to ensure we don't take on business from bad payers.
given the current credit climate i think its wise to ensure you aren't exposed to these kind of losses, the old fashioned "gentlemens" payment agreements are so rarely honoured these days then i think the only way small businesses can survive is using proper credit control.
We ended up in near liquidation a couple of years back due to bad debtors, we have to pay our subcontractors and expenditure and when people don't pay its usually the directors who foot the bill. last year we decided we had had enough of people who thought it acceptable to use services and not pay for them, we sat down with our bank commercial finance department and our accountants and formulated a proper credit control procedure including standard credit arrangements and contracts, debt collection and bad debt provision insurance. The reduction in bad debt has been the equivelent of getting another 25 percent in sales. we spend less time chasing bad debt and because we properly formalise our credit with clients they cannot claim they didn't know, we also do a good job now of formally credit checking new clients and setting credit limits to ensure we don't take on business from bad payers.
given the current credit climate i think its wise to ensure you aren't exposed to these kind of losses, the old fashioned "gentlemens" payment agreements are so rarely honoured these days then i think the only way small businesses can survive is using proper credit control.
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