I need a debt collector - can anyone help

[Mobsta]

I have too many unpaid invoices, which is irritating.

Many are quite small, just £200 here and £400 there etc.

Can anyone here help, or advise me on how to go about working with a debt collection agency or individual, who can chase my debts for me.

Are there agencies out there, who will chase the debt for me, and pass on their own costs and seek these costs from the individual or company owing the money, so that I receive the amount due to me in full?

How does it work? I do notify my clients that if I dont hear from them within XX days, legal action may be taken, etc etc... But would my clients by law need to be notified by me, that non payment may result in debt collection by a third party?

Thanks in advance for any advice.

[HoHoHo]

Speak to James at Gemini (jamesuk28), a PH who really knows his stuff.

I won't trust anybody else to do my collections.

Edited by HoHoHo on Thursday 5th May 21:44

[Mojooo]

Debt collection is something of a hot topic at the moment (what with so many defaults happening).

What I will say is that people get pissed off with debt collectors really quickly so be prepared to burn bridges with the debtors if your DCA go in too heavy handed - which is what seems to be happening a lot on consuemr debts.

I have looked at the website of the above recommended business and it appears commercial collecting is different in that you can charge fees to the end debtor.

[bennyboydurham]

A friend of mine in the business says a lot of collectors are going bust. Debtors before could rustle up a credit card to pay up or find it somewhere, but now they're more likely to know their rights (thanks to money saving expert etc) and give the collectors the run around because they just don't have the dosh. Good luck.

[wizzbilly]

HoHoHo said:

Speak to James at Gemini (jamesuk28), a PH who really knows his stuff.

I won't trust anybody else to do my collections.

Edited by HoHoHo on Thursday 5th May 21:44

will second that james realy knows his stuff and seams to get great results .

[mattviatura]

Mojooo said:

What I will say is that people get pissed off with debt collectors really quickly so be prepared to burn bridges with the debtors if your DCA go in too heavy handed

Have a word with Geoff at Urecall.co.uk. He's good at collecting debts without necessarily ruining the relationship.

[timskipper]

Or just do it yourself: https://www.moneyclaim.gov.uk/web/mcol/welcome

Pretty simple. The caveat there is even with judgement it's down to you to enforce it - probably time for someone like James to get involved at that point, but often getting one of these on the doormat illicits a payment in short order, and you're £0 out of pocket. Has worked for me numerous times.

[therealpigdog]

Also worth looking at why you have too many unpaid invoices - your credit control or service/goods isn't up to scratch! Prevention is better than cure. A few £ spent now could save many more ££ in the future and a fair bit of time.

Things to look at:

• Terms and Conditions
• Invoice reminders (can be generated automatically)
• Discounts for early payments
• Personal guarantees

If the invoices are disputed, then you need to consider why they are being disputed and deal with that underlying problem.

[hman]

As a business a notice before court proceedings normally rattles the debtors enough to pay up - presume you have put your debtors accounts on stop already?

[jamesuk28]

Mojooo said:

What I will say is that people get pissed off with debt collectors really quickly so be prepared to burn bridges with the debtors if your DCA go in too heavy handed

We are well aware that our clients have two types of debtors:

1. Those they wish to try and maintain a trading relationship with.

2. Those they do not wish to trade with again.

We always ask which type of debtor we are dealing with and approach the claim accordingly.

ETA: we have actually picked up debtors as clients (after the debt in question has been settled and with the original claimants blessing) so we must be doing something right. We also get are fair share of death threats so its nice to get a balance.

[Mobsta]

timskipper said:

Or just do it yourself: https://www.moneyclaim.gov.uk/web/mcol/welcome

Its used this before, and it works well, although is a little too long winded and involved, especially when you end up in court, although I heard the claims process has been simplified in recent months.

I spoke to James at www.geminidebtrecovery.com and he was very helpful in explaining how debt recovery works. Will start working with him immediately. Most non payers do not dispute what is owed, they are simply low or lazy when it comes to paying, especially the sole traders who went under but cant hide behind the limited liability of a non trading Ltd company. I have a mixture of both.

Thanks for the suggestions folks.

If its of interest to anyone reading, James said that a B2B claim, warrants the addition of a "Statutory Charge" of £40 which James simply tacks onto the amount I will be seeking. This fee covers his costs, in the instances where its not necessary to go beyond the initial first few letters.

James also said that multiple letters could/would be sent out, for the initial fixed £25 fee. This I thought was very reasonable.

[jamesuk28]

Mobsta said:

Its used this before, and it works well, although is a little too long winded and involved, especially when you end up in court, although I heard the claims process has been simplified in recent months.

I spoke to James at www.geminidebtrecovery.com and he was very helpful in explaining how debt recovery works. Will start working with him immediately. Most non payers do not dispute what is owed, they are simply low or lazy when it comes to paying, especially the sole traders who went under but cant hide behind the limited liability of a non trading Ltd company. I have a mixture of both.

Thanks for the suggestions folks.

If its of interest to anyone reading, James said that a B2B claim, warrants the addition of a "Statutory Charge" of £40 which James simply tacks onto the amount I will be seeking. This fee covers his costs, in the instances where its not necessary to go beyond the initial first few letters.

James also said that multiple letters could/would be sent out, for the initial fixed £25 fee. This I thought was very reasonable.

Easy they will think you are working for me especially as our posts are at the same time. The statutory charge is statutory compensation and whilst designed to compensate you for your debt collection costs rarely covers the entire cost. It ranges from £40 up to £100 per invoice along with statutory interest. Full details of the tariff and a calculator are on our website or just Google statutory compensation.

The service you refer to is our base service for debts of £550 or below. Other services we offer charge more plus a collection commission.

[TheEnd]

I love impartial reviews.

edit - there was a post above...

Edited by TheEnd on Monday 5th November 21:46

[Mike Random]

James, can or do you also retrieve items that have been paid for and l own but l have been made to wait 2 years for something l was told would take 6 weeks?

The guy keeps messing me about regarding a completion date

Just thought l would ask,

Thanks

Mike

[HoHoHo]

Mike Random said:

James, can or do you also retrieve items that have been paid for and l own but l have been made to wait 2 years for something l was told would take 6 weeks?

The guy keeps messing me about regarding a completion date

Just thought l would ask,

Thanks

Mike

Blimey - you're patient!

More details if you can.....

[Mike Random]

HoHoHo said:

Mike Random said:

James, can or do you also retrieve items that have been paid for and l own but l have been made to wait 2 years for something l was told would take 6 weeks?

The guy keeps messing me about regarding a completion date

Just thought l would ask,

Thanks

Mike

Blimey - you're patient!

More details if you can.....

I contacted a company in Guilford that restore drums, i stupidly sent him the drum and payment up front and was told it would take 6 weeks, 2 years later he keeps giving me the run around and promising me the drum restored and all the money back, the latest one is i will have it this week. After a year i researched it and it transpired his business had gone bankrupt prior to taking my money and drum. I have contacted the Police who did nothing and said they could do nothing, the Fraud help line have said they will open a file but l have heard nothing from them in 6 months so really at a loss

Thanks

Mike

[B19GRR]

TheEnd said:

I love impartial reviews.

The irony of her location is amusing too.

[HoHoHo]

Mike Random said:

HoHoHo said:

Mike Random said:

James, can or do you also retrieve items that have been paid for and l own but l have been made to wait 2 years for something l was told would take 6 weeks?

The guy keeps messing me about regarding a completion date

Just thought l would ask,

Thanks

Mike

Blimey - you're patient!

More details if you can.....

I contacted a company in Guilford that restore drums, i stupidly sent him the drum and payment up front and was told it would take 6 weeks, 2 years later he keeps giving me the run around and promising me the drum restored and all the money back, the latest one is i will have it this week. After a year i researched it and it transpired his business had gone bankrupt prior to taking my money and drum. I have contacted the Police who did nothing and said they could do nothing, the Fraud help line have said they will open a file but l have heard nothing from them in 6 months so really at a loss

Thanks

Mike

Unfortunately gone I wold suggest

Thanks for sharing.

[Mobsta]

Hohoho, if the business went under prior to your handing over the drum, there are implications, mostly in your favour. You are dealing with him and can sue him. I've had recent success with MCOL - it's like an accelerator pedal. Push it, and sorting out your drum will become his number one priority, virtually overnight. It only takes 10 minutes to initiate a claim.

[HoHoHo]

Mobsta said:

Hohoho, if the business went under prior to your handing over the drum, there are implications, mostly in your favour. You are dealing with him and can sue him. I've had recent success with MCOL - it's like an accelerator pedal. Push it, and sorting out your drum will become his number one priority, virtually overnight. It only takes 10 minutes to initiate a claim.

I'll re-direct this to Mike Random who made the post