Factoring Agents -
- Thread starter Buckley
- Start date
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N
N8
Guest
When my old man ran accounts at Merc Benz he always used to come home every other day or so swearing about the Factor compnay they used (International Factors i think) and how annoying/shit they were 
Good luck Mate!
Good luck Mate!MidlifeRaver
New Member
Buckley said:
Its possible your supplier routinely factors their debt to this company. The original invoice from the supplier should state this.
If its a one-off factoring to raise quick cash then there should a letter from the supplier to you informing you on this.
If have neither then ignore them.
Buckley
Well-Known Member
N8 said:When my old man ran accounts at Merc Benz he always used to come home every other day or so swearing about the Factor compnay they used (International Factors i think) and how annoying/shit they were
Basically, they given some twat subby 70% of a £200K invoice which is really worth £150K less 18% CIS and don't understand that he's not due any more. They've bought a £115K debt (which he may or may not have told them he's already had most of) for £140K!
Buckley
Well-Known Member
MidlifeRaver said:
Some of the invoices are stamped with factoring agents details some aren't. When I used to work for other companies, the accountants always said to ignore factoring agents because we had not entered any contract with them. Just checking nothing had changed.
Cheers all.
mambobirdette
Active Member
Buckley
Would you like me to go around and insult them?
Would you like me to go around and insult them?
Once the debt is assigned to the factoring company they have a right to "chase the debt".
Although you could simply refuse to deal with them, it will probably be easier to drop them a line highlighting the error to avoid the inevitable aggravation they can give.
But I'd ring the subbie and tell him to sort his fcking shed out or else.
Although you could simply refuse to deal with them, it will probably be easier to drop them a line highlighting the error to avoid the inevitable aggravation they can give.
But I'd ring the subbie and tell him to sort his fcking shed out or else.
Buckley
Well-Known Member
MARKB said:Once the debt is assigned to the factoring company they have a right to "chase the debt".
Although you could simply refuse to deal with them, it will probably be easier to drop them a line highlighting the error to avoid the inevitable aggravation they can give.
But I'd ring the subbie and tell him to sort his fcking shed out or else.
Have already canned the subbie Mark. He's a chancer who we dealt with briefly when we desperate for resource at short notice.
Buckley
Well-Known Member
MARKB said:A few random insults dished out are good for the soul, if not for the dignity
He will be getting a few f*cks thrown into him after all! Just had a fax off him demanding introductory payments, for some labour that came to us from them after I hoofed them. Shame he had them all working as self-employed on CIS cards, so my agreement to pay an introductory fee for any of his employees who worked for us in the 6 months following the ternimation of his sub-contract is worth sweet FA!
That last bit f8cks him over a bit, but I warned him if he tried to compete with me while I was financing him by paying him weekly, I would do exactly that. And what does he do?
Morbyd
Moderator
SwwwEEEEet!Buckley said:He will be getting a few f*cks thrown into him after all! Just had a fax off him demanding introductory payments, for some labour that came to us from them after I hoofed them. Shame he had them all working as self-employed on CIS cards, so my agreement to pay an introductory fee for any of his employees who worked for us in the 6 months following the ternimation of his sub-contract is worth sweet FA!
That last bit f8cks him over a bit, but I warned him if he tried to compete with me while I was financing him by paying him weekly, I would do exactly that. And what does he do?
Gotta love selective observation of the law
(you wanna take me to court? lets talk about those 'self-employed' employees of yours!)