Our selection of articles on debt - hints and tips in debt control and recovery
DEBT COLLECTION – NOT WHAT YOU THINK
AR Legal dispels the myths how a debt collection actually works
There is no doubt that debt collection agencies have a negative stigma attached to them, mainly due to the many myths that surround the industry and the tactics used.
Our top 8 debt collection myths dispelled. Read more...
KEY STEPS TO TAKE IN AVOIDING BAD DEBT
If you grant credit to a limited company, make sure the company is solid.
It is always wise to try to get a couple of trade references where possible. Read more...
CASH FLOW MAKE THE BLOODSTOCK BUSINESS GO ROUND
An up and coming trainer was approached by a potential new owner.
“I would like you to buy me a yearling”
“Great, we’ll meet at the October sales”
They duly met in the sales ring, the new owner pouring over his catalogue and discussing a possible purchase. Read more...
DEBTOR’S EXCUSES NOT TO PAY
To conclude the Trainer’s tale from the previous article – guess what – he never got paid.
There is never a cast iron guarantee that one will get paid, but it is still prudent to take certain precautions before granting credit. Read more...
BAD PAYERS PUTTING STRAIN ON TRAINERS
Survey commissioned by racing post reveals nearly a third have had to resort to court to chase debts from owners.
Ask the average trainer for a list of the thing that make his professional life difficult and you’ll likely end up on the receiving end of a monologue with no apparent end. More often than not, the words ‘prize-money’ and ‘not enough’ will surface quite quickly, but it seems another issue is rearing its ugly head with increasing regularity and added strain on the hard-pressed licence-holder: the issue of bad payers. Read More...