Credit Control Solutions

Competition to Win 2 x Credit Check Packages worth over £500.00...!

We are offering 2 lucky people the opportunity to win 12 months access to our online credit check service worth over £500. There are no catches and no small print. What you see with this offer is what you get…!

What’s in the package Jamie?

• 12 months access to our on-line credit check service
• You can check any UK Limited Company or Unincorporated Business
• You can credit check any UK Director
• You can perform media searches on any Business/Director in The UK
• You can perform as many credit checks as you like – there are no limits

All services are for 12 months, and the package value is £500+

So how do we win it then?

This is the easy bit! All you have to do is ‘Like’ our Facebook Business page! That’s it! Then on 17th July we will put all of our Facebook ‘fans’ into a random generator and pick out 2 lucky winners..!

That’s it?

Yep, that’s it – go to our Facebook Business Page, click on the “Like” button at the top, and you’re in with a chance! Ask a question on the page and we’ll put you in the draw twice!

Post details of our offer on your own Facebook profile (use the “SHARE” button at the bottom of our page on the left) and we’ll enter you a third time!

It’s that simple – so if you want to be in with a chance to win one of our 2 credit check packages available in this offer, which will ultimately help you to reduce your bad & doubtful debts, help you to make informed decisions about who you grant credit terms to, or if you just want to be nosey and see how well (or not) your friends companies are doing go to our Facebook Business Page, and “LIKE” us now!

 

Jamieo "Making your cash flow"

Buy-One-Get-One-Free Debt Collection Promotion!

We have a “BOGOF” offer on the following debt collection services this month. 

Letter Before Action Service - We charge £12.50 + VAT to issue a letter before action for you. This includes; sending out the letter, making 1 follow up phone call and reporting back to you. For further information on this service please click here

Statutory Demand Service – We charge £60.00 + VAT to issue a Statutory Demand for Payment. This includes; posting the demand to the registered office address (or in the case of an individual, or unincorporated business, to their trading address, or home address), posting it to a Directors home address and emailing it to any number of email addresses, plus 1 follow up phone call and reporting back to you. For further information on this service, please click here

To be eligible for this offer you must email us here.

Jamieo “Making Your Cash Flow”

Special Facebook Promotion.!

The first 5 people who sign up to our Business Facebook Page from our newsletter, will receive 1 month free of charge on-line access to our credit checking service. Our credit check service is second to none and can be used to search any UK Limited Company, Unincorporated Business, or UK Director. Just to clarify, this offer is unconditional and can be used for as many credit reports as you require.

If you haven’t already subscribed to our newsletter and wish to do so to take advantage of this great offer, you will firstly need to sign up to our Facebook Page and then subscribe to our Newsletter by clicking here

So, if you wish to receive our free credit check offer:

1. Click our Facebook link above
2. subscribe to our Newsletter (if you haven’t already done so)
3. Finally, email us here to let us know and we will set you up and email logon details to you straight away.

Jamieo “Making Your Cash Flow”

Exclusions* This offer excludes existing credit check customers of CCS and is only open to new fans of our Facebook Page.

Free Credit Control Resources: Google (Update)

We are currently doing a debt collection job for our friends at Invicta Power Service and once again using Google has provided us with some invaluable information..!

We took on this job on 25th May 2010. We sent a Statutory Demand for payment to:

• The Registered Office Address
• The Directors Home Address
• and to several email addresses that we picked up from Google.

3 days after we had sent the demand, we received a telephone call from one of the hairdressing salons concerned. She acknowledged receipt of the demand and said that she would get the director to call me.

Needless to say, we never heard back from the director.

On 2nd June, I sent a chase up email to the Director and once again heard nothing back.

On 9th June, Invicta Power Service informed us that they had been contacted by the director and fixed up a meeting to discuss monies owed. At the meeting the debtor agreed to pay, but payment has not been forthcoming at the time of writing

Today 14th July 2010, I contacted the Director on his mobile phone and he "pretended" that he was not the debtor. When I pushed him, he became incredibly abusive F'ing & blinding etc. We thought this was funny and simply laughed at him. Anyway, I got my message across to him - i.e we would issue Winding up Proceedings against him if payment was not forthcoming.

After this telephone call, I informed our friends at Invicta Power Service of my telephone conversation with the debtor and said that it would be unlikely that we would recover the money for them on this occasion. The debtor is a wide boy etc.

After putting the telephone down, I took my own advice and started to do some research on Google. Even I was amazed at what I managed to uncover. It turns out the debtor:

• Received a 4 month suspended jail sentence for a physical assault of a Dr in Ashford, Kent.(incidentally, the Dr concerned was beaten up so badly that he can no longer practice as a Doctor)
• Is a Parish Counselor
• Is on "Linked In" and we happen to have several friends in common..!

The above information is very useful to me in debt collection terms, as, clearly I have established that the debtor has both an on-line & offline reputation to protect and we will obviously use this to our advantage.

Incidentally, our friends at Invicta Power Service paid us £60.00 + VAT to use our statutory demand service. For this service, we will:

• Issue a Statutory Demand for payment to several addresses and by email, fax etc
• Make one follow up phone call to try and secure payment.

In reality, we always do more work for our customers than we actually charge for. In this case, we have

• Issued the Statutory Demand for Payment.
• Sent 3 chase up emails
• Made 5 x phone calls to the debtor &
• Spoken with our friends at Invicta 3 times.

So, you know where to come for cost effective and added value debt collection

Jamieo "Making your cash flow"

I will name the debtor in due course, if we do not recover the debt, so that we can warn everybody in Kent not to do business with this guy/company

When to Start Debt Collection?

Debt Recovery

The question is at what stage do you start debt recovery action? The answer to this question depends very much on how diligently you have credit controlled your debtor?

 

Everyone has an explicit right to expect to be paid on time. In reality however this is not always the case. We feel that on the whole most debtors should be treated the same, until they prove otherwise. i.e. assume they are not going to pay you and devise a credit control process around this assumption.

 

If you have very good credit control process in place, then by the time the debt is 60 days old, your debtor should have received 2 x statements of account and 3 x standard letters/emails and several telephone calls. On this basis, if your debtor has not paid you by 60 days, I would say it is time to instruct a debt collection agency (such as ourselves) to pursue your debtor for you.

 

If on the other hand, you do not have a good credit control process in place and merely just expect to be paid, or perhaps send out a statement here and there, referring your debtor to a debt collection agency to pursue at 60 days is probably not on. In effect you are penalising your debtor for your own ineffective credit control practices.! The solution to this problem is; make sure that you have a good credit control process in place to avoid your customer blaming you for the breakdown of the relationship.

 

We offer a full range of debt collection services and what’s more the way we charge for our debt collection services is unique within the debt collection industry and means that more of the money we collect goes in your coffers and not ours..!

 

We also have lots of testimonials on our website from satisfied customers for you to peruse so that you can satisfy yourselves that we are a professional outfit and will always collect monies from your debtors with a view to keeping the door open in terms of your relationship with them

 

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Jamieo "Making Your Cash Flow"

Enforcement: County Court Bailiffs-v-High Court Enforcement Officers

Who can best enforce your judgment?

 

If you have a debt of between £600 and £5,000 (including court costs), you will seek a county court judgment (CCJ) in the County Court. Once you have this, you then have a choice for enforcement between either the County Court Bailiff or the High Court Enforcement Officer (HCEO).

 

Debts below £600 can only be enforced by County Court Bailiffs. Judgments for debts of £5,000 and over can only be enforced by an HCEO.

 

In April 2004, the law was changed to allow debts between £600 and £5,000 to be transferred up to the High Court for enforcement. This change has given creditors a great deal more choice with so far as enforcement goes.

 

High Court Enforcement Offices (HCEO’s)

HCEO’s are authorised by the Lord Chancellor and work privately or in private companies.

 

HCEO’s work under the authority of a Writ of Fieri Facias (Fi Fa). This is issued when a County Court Judgment, Order or Tribunal Award is transferred to the High Court for enforcement via Form N293A and a court fee of £50.00. The transfer process normally takes between 5 and 21 days.

 

If successful, the HCEO will collect your judgment debt, your court costs, your £50 transfer up fee, interest at 8% and their fees, costs and charges from the defendant.

 

Benefits of Using an HCEO

 

·   HCEO's earn their fees from the judgment debtor, but only when they collect. If the HCEO is unable to collect, there is an industry regulated abortive fee of £60 plus VAT paid by the creditor for each address visited. Other than the abortive fee, the HCEO receives no income for an unsuccessful enforcement.

 

·   HCEO’s tend to have significantly higher collection rates than those of the County Court Bailiffs, who are salaried without any financial incentive to collect.

 

Unlike the County Court Bailiff, the HCEO does not have to give the judgment debtor any advance notice of their intention to collect, giving them the advantage of surprise. HCEO’s are also permitted to force entry into commercial premises to enforce, a power not permitted to County Court Bailiffs.

  

County Court Bailiffs

CCBs are salaried civil servants employed directly by the court service. They can enforce on judgments up to £5000. They work under the authority if a Warrant of Execution which can be requested from the County Court for a fee of £100.

 

Before they attempt to collect, the County Court Bailiff must write to the defendant advising them of their visit.

 

County Court Bailiffs will collect your judgement debt, your court costs, your warrant cost and interest (if prescribed) from the defendant. If unsuccessful, there is no abortive fee.

 

In summary

·   HCEO’s normally have far higher collection rates due to the financial incentive of fees only being paid on success

 

·   Only HCEO’s have the element of surprise, as they do not need to give a letter warning of an intended visit

 

·   Only HCEO’s can force entry to commercial premises and buildings detached from residential living quarters

 

·   Only County Court Bailiffs can enforce on judgments below £600 (at present)

 

·   The process of gaining a Warrant of Execution (CCB) is normally a little faster than that of transferring up and gaining a Writ of Execution /Fi Fa (HCEO)

 

·   A Warrant of Execution (CCB) costs £100

 

·   A Writ of Execution/Fi Fa (HCEO) costs £50

 

·   There is a £60 plus VAT abortive fee if enforcement is unsuccessful (HCEO)

The judgment debt, interest, court fees and enforcement costs are collected from the debtor through either route.

Credit Control Solutions can issue County Court proceedings on your behalf, visit our debt recovery pages on our website for further information.

Jamieo "Making Your Cash Flow"

 

Cash Flow is Critical!

The UK is experiencing a major increase in failures. Many companies are just walking away from their problems. 

When you lose £1,000 on a 10% profit margin you'll need to win and be paid for £10,000 of new business to just stand still!

But while you may be sitting on the fence, others are getting in more quickly to collect what little money may be available.

You can do something about it! Contact us through our website and we will react immediately to start the recovery process.

Jamieo "Making Your Cash Flow"

Debt Collection

In the current climate, debt collection is a hot topic.

If you have customer's with debts over 60 days old without a valid reason for not paying you, you should be considering passing the matter to a debt collection company.

Consider this, if you fail to act to collect the debt, you may end up having to write the debt off as a "bad debt". if you refer it to a debt collection company, you may end up recovering part of the debt, thus reducing your loss.

We can set-up data export routines with you where we can automatically assume responsibility for debts over 60 days old, this means, you can rest assured, knowing that these debts are being worked on and stand more chance of being collected.

Our Debt Collection Services offer very good value for money and we charge for our services in a unique way, meaning that more of the money we collect for you ends up in your company coffers rather than our own.

For further information on all of our services, please visit our website.

Jamieo "Making Your Cash Flow"

Free Debt Collection With no Catches

We have just added a "FREE DEBT COLLECTION" promotion on our website

I know what you're thinking:

• what's the catch? (THERE ISN'T ONE)
• where's the asterisk? (THERE ISN'T ONE)
• where is the "unable to read small print that is impossible to read without a 1000 times magnification magnifying glass"? (THERE IS NO SMALL PRINT)

This is a genuine offer.

For further information on our debt collection services, please visit our website

Thanks for reading.

Jamie O "Making Your Cash Flow"

Debt Collection - Don't try to do it Yourself!

If your invoice payment terms are 30 days and you have debtors in your 60 day and older column, you should be looking to instruct a third party (such as ourselves) to collect these debts for you

It makes sense to use your internal resources to focus on collecting debts at the front end of your ledger (in the current, or 30 day column) and utilise our debt collection services to collect the older stuff. 

Why? I hear you ask...
Quite simply, the longer a debt remains unpaid, the higher the risk there is of being faced with a bad debt.  You need to consider this: Do you want to collect your debt, or face the possibility of another bad debt? Let's face it, if someone doesn't want to pay you they don't have to. The UK legal system doesn't exactly help you to collect your debts does it?

If you issue a County Court Claim, it will normally cost you dear both in financial terms and in time terms.

Example 1
If you get a County Court judgement, you can then send in the bailiffs. Ok, so the bailiffs knock on the door and do not get an answer. They will then simply return the warrant to you stating that they could not gain access. This leaves you with a debt recovery problem. In real terms you are now faced with trying to recover a much larger debt. If you had to resort to legal action to try to recover the original smaller debt, what makes you think you are able to recover the now larger debt? The fact is you won't and ultimately you will be faced with a higher value write off.

Example 2
You issue a County Court Summons, the debtor (defendant) puts in a defence to your claim. The judge considers the defence and decides to list the matter for a full hearing. Firstly, you will have to pay additional fees if the matter is listed for an actual hearing and secondly, you will have to attend court. The outcome of the case very much depends on who presents the more credible case on the day. In other words, if the judge likes you and you present your case in an organised, polite and professional way you will win the case. When you consider, there is a good chance that you may lose the case and therefore run the risk of having to pay the defendants costs, as well as having to potentially write off the debt, Was it a good decision to go to court in the first place?

Don't get me wrong I am not totally against using the county court procedure. In some cases, it makes perfect sense. In the main and in my own experience, use of the county court procedure purely as a debt recovery tool is not the best way of recovering your money.

Before you consider issuing county court proceedings, look at your case through the eyes of a third party. In other words, give your case a "reality check" So many cases fail due to lack of signed paperwork, or failure to provide proof that an order was placed by the debtor. When you look at your case you need to do so from a "Black & White" perspective. If there are a few "Grey" areas, I would suggest that you do not issue a county court claim.

If you want to recover your money, allow us (the experts) to do it for you. Our charges start from as little as £12.50 for our Letter before Action Service. This is a very small price to pay, when you consider that our chances of recovering your debt are far higher than yours.

You only have to look at our testimonials on our website to determine that it isn't only us that thinks we are the greatest debt collection company on earth - our customers do too!