Commercial Rent Arrears

Landlord Help Yourself Years ago I wrote on this subject “Landlord Help Yourself”, because in those days, although few landlords knew it, they could help themselves.  Landlords owed rent for commercial premises, provided there was no residential element in the demise, could just enter peacefully and seize the tenant’s goods and sell them. Landlords seem to overlook their ancient rights of distress. They are worth discussing with us. [It is unfortunately quite different where the tenant has left, although, we can usually help assuming you have an address for him, (and if not we can use our tracing agent – no trace no fee)]. All that was before…

READ MORE

Rent Arrears

Landlords – not every instruction we get ends successfully. Approximately one in seven enquiries these days come from landlords. The picture is almost always the same. The luckless landlord has given the tenant every consideration, waited for the promised rent, allowed substantial arrears to build up and then come direct to us or first got judgment and then come to us. Its all the same. We have been in business for 50 years now and only in the last years has this problem assumed such proportions. We earn our fees by collecting from debtors. Sadly we tell landlords that they are wasting their time.  We are unlikely to…

READ MORE

Safety first – better control of your debts

Do you really have control of your debtors? Anybody can sell if he does not expect to get paid. Time and again businesses achieve their sales targets, yet go to the wall, because they have cash flow problems (17,000 companies alone in 2005/06). And it is not just the new and inexperienced businesses either. One of the secrets of survival is proper control of the sales balances outstanding. Monitoring them starts with a list. It is sad how often that list is produced in ABC order? Every list is an opportunity to rank the contents in some order or other. There are only two arrangements. ABC order is…

READ MORE

Going for Broke?

THE STATUTORY DEMAND – A DANGEROUS WEAPON OR A CURE-ALL? GETTING REALLY TOUGH WITH THE DEBTOR Statutory Demands – the last resort Getting in all the monies due can often be a nightmare. Even with a good system in place the best regulated businesses can still experience the occasional determined non-payer. The Same Old Tricks The scenario is common enough. First the debtor had asked for yet another copy of the bill. Then there was the delay until his computer was up (again?). Then there was a dispute, followed by a wait for a new cheque book and a cheque lost in the post and when the cheque,…

READ MORE

You have secured judgment. Now the debtor still won’t pay

Is your judgment worthless? Little is more frustrating to the creditor than finding after he has won his case in court that his judgment debtor still will not pay. This company regards suing as a last resort. And certainly recovering money from judgment creditors is about the most difficult work we do. The trick is to embarrass the debtor. We do that legally. There are many ways to skin a cat. Means of enforcement Chief amongst them is the traditional remedy of appointing bailiffs. County Court bailiffs have to give notice that they are coming. This gives the debtor too much scope for evasion. We prefer not to…

READ MORE

LOST TRACK OF YOUR DEBTOR? No address?

Every now and then a creditor comes to us with a debt and a sorry story and ends by confessing that they have not got the address of their debtor. We don’t consider it necessarily a lost cause. We enjoy the services of a first class tracing agent. The agency operates lawfully. They work, like us, on a no win no fee basis and time and again work wonders. The report often comes up with extra details (telephone numbers, place of work etc) and the chase for recovery can start. If they can’t trace the debtor they invite us to try again in 30 days time. Data bases…

READ MORE

Litigation – The nuts and bolts of suing

We regard suing as a last resort. There is however inevitably a small percentage of debtors whom we have not managed to persuade to pay whether in instalments or at all. Principally they fall into two groups. Those whom we guage to have the money yet will not pay and those who think they know best and want a fight. Suing is not expensive, nor in the early stages is it time consuming. If the debtor is an individual there is a new (and tiresome) pre-litigation protocol. We do it all. The purpose of the protocol is to reduce the number of cases in the Small Claims Court…

READ MORE

Builders & Advance Payments

Unfortunately it sounds perfectly reasonable that a builder should want an initial payment for materials before he starts. The trouble is that again and again we get involved because the builder never starts!! By the time we get involved it is often too late. It is difficult to tell the creditor that he has been duped. The builder ran out of money and is using my client’s money for the materials and wages to complete the previous job. So easy to be wise after the event. He should have taken up references. If he is going to part with money then at the least he should have the…

READ MORE

Credit Control – Any fool can sell if he doesn’t expect to get paid

With 40 years of debt collecting behind me, it is a constant disappointment how many customers coming to me for help do not actually know who their debtor is. If you give credit, then you really need to know. It dois not matter at all what the company calls itself. Who cares if it is “the Best in London.”  It does not matter a hoot when things go well. BUT when things go wrong there is a world of difference whether the debtor is a limited company or an individual. When a limited company fails to pay, suing is probably pointless. Often all that is left for a bailiff…

READ MORE

Letting Residential Property

Guarantors A good tenant can be a pleasure. A bad one a disaster. About one in seven of enquiries at the moment are from sad landlords chasing residential rent arrears. Often they have no idea even where the ex-tenant has gone to. We tell them that they have been cheated and they just have to to get on with life. But they can learn. They took up references, but have they thought that the next tenant could be asked to provide a guarantor. The form is simple. Estate agents use them all the time. We have several times come across a guarantor who was on benefit, worthless.  Recently…

READ MORE
  • 1
  • 2