Rent Arrears
You are a victim of circumstances: You have property investments, and took in a tenant on an agreed rental agreement. Although you did your due diligence and believed or were advised that the tenant had a good credit risk, you now find your debtor has little to his name, and you are either considering or have evicted them. Leaving you with a debt which would seem uncollectable!
We have the answer; Your debtor typically now seeking new housing accommodation and as such, some new landlord will be seeking credit references for them.
Our unique method of collection ensures that we use leverage in our negotiation to obtain repayment as soon as possible. We first purchase the debt from you, and as partners to the Equifax credit community, we are able to submit information on their indebtedness. Our leverage techniques are performed in the following ways depending on the circumstances of the debtor:
- Request repayment of the debt from Guarantors, obtained at time of signing the tenancy.
- Trace new address of debtor or debtors.
- Obtain court order for debtors to pay.
- Obtain attachment of earnings.
- Report the debt to credit reference agents including Equifax, remove it only when the debtor agrees to a repayment schedule in full or by instalments.
The profile of the tenant, your debtor is notorious, making it very difficult to obtain results. However, our many years experience of continuous chasing, ensures that your debt is never forgotten about and is always foremost in your debtor’s mind. Typically, the only costs incurred to engage our chasing this type of debtor, are an administration fee, together with an agreed commission on collection of the debt. Any additional fees which may accrue, for example tracing costs or litigation fees if Court action becomes necessary, will only be charged after discussion and agreement by yourselves.