It would be nice to imagine that whenever there is a business relationship, the company pays on time and doesn’t run away when they owe you money. Unfortunately this isn’t an ideal world – businesses change addresses and company directors disappear seemingly without a trace.
If you find yourself in this type of situation, it is easy to despair and give up hope that you will ever recover the debt. Of course prevention is better than cure in these cases but that isn’t much use if you haven’t taken preventative steps.
So if your debtor has disappeared here are some steps you can take to trace them:
1) Run a credit check if you haven’t done so already. If you have do a thorough one because it just might reveal an address you didn’t know about.
2) Check with Companies House. This can be done quickly and easily online.
3)A favourite trick of debtors is to ignore your letters and hop you go away. Don’t let them, make sure you send your mail signed for so that they are forced to accept the letter or risk letting you know they are still present at the address even though your letters are being rejected.
4) Failing the above you can contact the Royal Mail sorting office and ask them if there is a forwarding address for the company.
If you find yourself struggling to find a debtor or if you need advice on debt recovery please contact one of our friendly team today.