Client company folds

[richy_B]

I don't recommend a violent approach but certainly worth finding and explaining face to face you need paying. It's easy to ignore emails, calls, etc. Knocking at their house at midday on a Saturday is harder to ignore.

[Mark Bolam]

5am on Sunday is even harder.

[Gary Prentice]

Saturday night dinner party is good, too.

[Khriss]

15 hours ago, Mark Bolam said:

5am on Sunday is even harder.

....nope-they will think yr Jehovas Witnesses ! K

[bumble B]

If you can get info on finances and history then do it. It amazes me how many people don't, like the Gov'.

[Alycidon]

If a limited company then Company Check is free for the basic service and tell you what you need to know.   For recommended credit limits etc then you need to sign up which costs.

 

Insuring your sales ledger is another way but insurers wont allow you to pick and choose,  its either all or none.

 

If you get 2p in the pound you will have done well.   Companies Phoenix all the time,  gone one day and back a few days later under a similar name doing the same thing.   Dealing with these companies you know that sooner or later you wil get shafted so another way is to not get mad but maintain the contacts,  and do work for the new company that you overprice by perhaps £100 a pop.   Developers do a development,  then go over taking all the subbies with them and leaving the home owners with little by way of warranty.   Then set up a new company for the next development.   I had a guy with 10 failed companies behind him ask me to supply stoves and flues at 4k a pop for 7 or 8 houses,   I said I would do one then wanted paying.   We did two and got paid OK.  The rest were sold without stoves.

 

A

[openspaceman]

3 hours ago, Alycidon said:

Companies Phoenix all the time,  gone one day and back a few days later under a similar name doing the same thing. 

The ones in the know with a tame liquidator keep the same name: owner changes name of company and goes into voluntary liquidation, gets 3rd party to buy back assets from administrator and buys a new company off the shelf, changes name of new company to the old company name which is now available.

[rapalaman]

Lost a days ground maintenance money when a big company I worked for went bust last year. 65m turnover, 300 employees redundant. I got away very lightly - mate who did their transport got shafted for 250k.

I never let debts build up - I want paying in stages on bigger jobs. Good customers respect this, others can go elsewhere!