Debt ChasingDebt Chasing

Aysun ÖZGÜNAysun ÖZGÜNUğur ÖZTÜRKUğur ÖZTÜRKMurat YILMAZMurat YILMAZ

Ş. Burak ÇOBANŞ. Burak ÇOBANMuzaffer GÜNERİMuzaffer GÜNERİ

DEBTDEBT

The concept of debtThe concept of debt: :

When When You need something, you borrow it You need something, you borrow it and you're in debt to the lender. When you and you're in debt to the lender. When you give it back you're out of debt. give it back you're out of debt.

In Türkiye there is common used sentence like In Türkiye there is common used sentence like for debt “Borç yiğidin kamçısıdır”for debt “Borç yiğidin kamçısıdır”

History of debtHistory of debt

In early Greece debt was physically tied In early Greece debt was physically tied to bondage, for if one was unable to to bondage, for if one was unable to repay their debts they simply became repay their debts they simply became property of the lenderproperty of the lender..

In his wisdom Solon, the great lawgiver, In his wisdom Solon, the great lawgiver, passed a law in 594 B.C. that outlawed passed a law in 594 B.C. that outlawed debt bondage and canceled all debt bondage and canceled all outstanding debts. outstanding debts. That was of course That was of course good news for those who owed money good news for those who owed money but not so for those who had lent it.but not so for those who had lent it.

It was in the Italian banking system It was in the Italian banking system in the 1300's that modern lending in the 1300's that modern lending got its start.got its start. Using a bill of exchange Using a bill of exchange a bank could lend money, designate a bank could lend money, designate from among dozens of currencies from among dozens of currencies and transport it safely over poorly and transport it safely over poorly guarded highways. guarded highways.

DEBT CHASING:DEBT CHASING:

Debt chasing is probably the area of business where negotiation is needed so much that it is almost a matter of routine the problem is that so often, the only excuse for lack of payment is lack of intent, and this can lead the unwary negotiator into a situation where AGGRAVATION is endemic.

Debt CollectingDebt Collecting

Collecting debt is best done in person, Collecting debt is best done in person, your own or an agent’syour own or an agent’s..A bad debt is no different from theft, A bad debt is no different from theft, except you know the name of the except you know the name of the thief.thief.Any payment is better than none.Any payment is better than none.Collect what you can and run.Collect what you can and run.If necessary, agree for part payment If necessary, agree for part payment in final settlement.in final settlement.

People never like paying bills of People never like paying bills of course and will use every opportunity to course and will use every opportunity to couch up the readies as late as possiblecouch up the readies as late as possible but not paying bills increase the total debt…but not paying bills increase the total debt…

Especially the credit Especially the credit card debts in Türkiye card debts in Türkiye at the last years at the last years increased rapidly. increased rapidly. Credit card users in Credit card users in Türkiye use cards Türkiye use cards unconsciously like the unconsciously like the governments governments spendings…spendings…

In addition every lenders hates breaking In addition every lenders hates breaking off from the day to day running of business to off from the day to day running of business to get on the phone to those late payers. It is a fact get on the phone to those late payers. It is a fact that most business fail because they do not that most business fail because they do not know to control their debtor list.know to control their debtor list.

So, if you are a lender how do you go So, if you are a lender how do you go about getting your payers to pay up? about getting your payers to pay up?

Much will depend on the type of debtor Much will depend on the type of debtor you’re dealing with, the size of the debt and your you’re dealing with, the size of the debt and your willingness to go to court. Assuming the debt is willingness to go to court. Assuming the debt is significant, provable and you are prepared to go significant, provable and you are prepared to go to court, there are a number of options at your to court, there are a number of options at your disposal. These options are: disposal. These options are:

DIY (do it yourself) collecting:DIY (do it yourself) collecting: BBy using y using credit master.credit master. I In order to avoid the harms of n order to avoid the harms of debt-chasing, firms should facilitate effective debt-chasing, firms should facilitate effective “credit management programs”.“credit management programs”.

Using legislationUsing legislation::

Using a third party:Using a third party: TThe third party usually he third party usually means Collecting Agents (factoring firms), Non-means Collecting Agents (factoring firms), Non-Court Actions, Solicitors specializing in debt Court Actions, Solicitors specializing in debt collection, statutory demands and Court Actions.collection, statutory demands and Court Actions.

Threat:Threat: It It is an illegal and unethical way of debt-is an illegal and unethical way of debt-chasing.chasing.

DDoo I Itt Y Yourselfourself C Collectingollecting::

First of all, set-up a system to track outstanding invoices. First of all, set-up a system to track outstanding invoices. Once a payment becomes due, star chasing. Identify the Once a payment becomes due, star chasing. Identify the correct contact and issue a polite reminder letter as a correct contact and issue a polite reminder letter as a simple first step.simple first step.Worth doing is drawing up a timetable detailing action Worth doing is drawing up a timetable detailing action you’ll do at each stage of the debt collecting process i.e. you’ll do at each stage of the debt collecting process i.e. letters, pone calls. Also, record and retain all letters, pone calls. Also, record and retain all correspondence with your debtors, including fax/e-mail correspondence with your debtors, including fax/e-mail remainders and dates when actions are taken. If the remainders and dates when actions are taken. If the debtor is showing signs of employing delaying tactics, try debtor is showing signs of employing delaying tactics, try to se a date for resolution of the payment problemto se a date for resolution of the payment problem

Most important of all, keep a file or Most important of all, keep a file or recording the date of each action, which recording the date of each action, which individual you contacted, and the contents individual you contacted, and the contents of any telephone conversations. Simple of any telephone conversations. Simple isn’t it? Well not quite. But it should make isn’t it? Well not quite. But it should make your life just that little bit easier.your life just that little bit easier.If the payment is considerable and you fail If the payment is considerable and you fail to get any satisfaction from the debtor, to get any satisfaction from the debtor, consider the option of debt-chasing tactics consider the option of debt-chasing tactics which would be the most cost effective which would be the most cost effective and profitable which to employ.and profitable which to employ.

CREDIT MASTER:CREDIT MASTER:

Credit Master helps to pro-actively chase Credit Master helps to pro-actively chase debts in a more focused, timely manner, debts in a more focused, timely manner, which, if used correctly, will lead t improve which, if used correctly, will lead t improve cash flow. Companies using Credit Master cash flow. Companies using Credit Master have found a noticeable reduction in bad have found a noticeable reduction in bad debt, through early identification and more debt, through early identification and more targeted pursuit of problem accounts.targeted pursuit of problem accounts.

SIMPLE WAYS TO COLLECT SIMPLE WAYS TO COLLECT DEBT YOURSELF:DEBT YOURSELF:

The most proper strategy depends on the The most proper strategy depends on the size of the debt -$31 calls for a different size of the debt -$31 calls for a different strategy than $1200, or $34000.strategy than $1200, or $34000.It’s different chasing an individual than It’s different chasing an individual than chasing a company.chasing a company.If it’s a company it depends on the size of If it’s a company it depends on the size of the company.the company.It can also depend on how important you It can also depend on how important you are to them.are to them.

Little debts owed by individuals:Little debts owed by individuals:steps to follow:steps to follow:

Write them a letter, saying its unlike them Write them a letter, saying its unlike them not to pay promptly, and please could you not to pay promptly, and please could you have the money. Use a bit of same on have the money. Use a bit of same on them.them.Keep phoning them, politely but firmly.Keep phoning them, politely but firmly.If a cheque is there (they say) but for If a cheque is there (they say) but for some inventive reasons it never gets sent, some inventive reasons it never gets sent, say you’ll send a courier around at sme say you’ll send a courier around at sme hour.hour.

Big debts owed by individuals:Big debts owed by individuals:steps to follow:steps to follow:

You can try the steps used in 1 to 3 in the You can try the steps used in 1 to 3 in the previous case. But don’t let to much time go by previous case. But don’t let to much time go by doing that. Instead’ go straight to the next step doing that. Instead’ go straight to the next step mentioned:mentioned:

Call in to see them. Call in at work, or at home, Call in to see them. Call in at work, or at home, or wherever you can find them. Not many people or wherever you can find them. Not many people can stand the presure of a personal call. And can stand the presure of a personal call. And remember, this is a big debt- one that’s remember, this is a big debt- one that’s important to collect. The best way is to collect it important to collect. The best way is to collect it yourself.yourself.

Little debts owed by companies:Little debts owed by companies:steps to follow:steps to follow:

Make sure they have at least one letter from Make sure they have at least one letter from you, firmly but pleasantly asking for the money.you, firmly but pleasantly asking for the money.

Try wearing them down with telephone calls. Try wearing them down with telephone calls. Phone daily, even twice a day.Phone daily, even twice a day.

Offer to send around a courier. This often breaks Offer to send around a courier. This often breaks through their weaker excuses and exposes a through their weaker excuses and exposes a realm of truth: they might tell you they’re having realm of truth: they might tell you they’re having temporary cash-flow problems, and that the temporary cash-flow problems, and that the account will be paid within two weeks.account will be paid within two weeks.

Big debts owed by companies:Big debts owed by companies:steps to follow:steps to follow:

Try steps1,2 and 3 for small debts owed y companies. Try steps1,2 and 3 for small debts owed y companies. But go through the steps faster. This is a big debt, after But go through the steps faster. This is a big debt, after al don’t mess around too long before you…:al don’t mess around too long before you…:Go to see them. Make an appointment with the credit Go to see them. Make an appointment with the credit manager. If you get a lot of excuses just go without an manager. If you get a lot of excuses just go without an appointment unannounced, and plop down in reception. appointment unannounced, and plop down in reception. Be polite and smile at everyone. Look like you’re Be polite and smile at everyone. Look like you’re prepared to spend the day. Take something to read, or prepared to spend the day. Take something to read, or even a laptop computer and do some work.even a laptop computer and do some work.Sooner or later someone will see you. Ten you’ll either Sooner or later someone will see you. Ten you’ll either get a cheque or you’ll find out what you’re really up get a cheque or you’ll find out what you’re really up against.against.

TIPS FOR RUNNING DEBT COLLECTION TIPS FOR RUNNING DEBT COLLECTION EFFECTIVELY IN A SALES FIRM:EFFECTIVELY IN A SALES FIRM:

Get Close to the Customer:Get Close to the Customer:Businesses must ensure they have the right individual’s Businesses must ensure they have the right individual’s name for letters and phone calls.name for letters and phone calls.

Make ‘Credit Terms’ very clear:Make ‘Credit Terms’ very clear:Include a paragraph for the buyer to sign, agreeing to Include a paragraph for the buyer to sign, agreeing to comply with stated payment terms and conditions of comply with stated payment terms and conditions of sale.sale.Stress payment terms, as a condition of sale Stress payment terms, as a condition of sale supersedes any buyer’s terms. Send it to a named, supersedes any buyer’s terms. Send it to a named, responsible person.responsible person.It is professional, not anti-selling, to say “our business It is professional, not anti-selling, to say “our business allows 30 days to pay”.allows 30 days to pay”.

Invoice effectively: Send accurate invoices and DO Invoice effectively: Send accurate invoices and DO INCLUDE payment terms and due date, date, delivery INCLUDE payment terms and due date, date, delivery date and method, description, price and total payable.date and method, description, price and total payable.Achieve Adequate Collection CoverageAchieve Adequate Collection CoverageSet Targets and Priorities: a company boss should make Set Targets and Priorities: a company boss should make it clear to all relevant staff that THE COMPANY IS IN it clear to all relevant staff that THE COMPANY IS IN BUSINESS TO EARN CASH FROM CUSTOMERS and BUSINESS TO EARN CASH FROM CUSTOMERS and that A SALE IS NOT COMPLETE UNTILL IT IS OAID that A SALE IS NOT COMPLETE UNTILL IT IS OAID FOR!FOR!The rate of cash inflow should be reliable in line with sale The rate of cash inflow should be reliable in line with sale made.made.Use Third Parties Sooner not Later: Some customers Use Third Parties Sooner not Later: Some customers ignore reminders and wait until they receive a significant ignore reminders and wait until they receive a significant threat; using a third party can have an activating effect.threat; using a third party can have an activating effect.Take he case to the Court if you cannot take your money Take he case to the Court if you cannot take your money in any way.in any way.

DIY collecting has some drawbacks such DIY collecting has some drawbacks such that if the debtor whom you are dealing with, is that if the debtor whom you are dealing with, is such a stubborn and hardnosed one, he/she such a stubborn and hardnosed one, he/she may develop lots excuses by using his/her may develop lots excuses by using his/her infinite imagination. In such a situation those infinite imagination. In such a situation those sentences are likely to be pronounced:sentences are likely to be pronounced:“ “ I am in conference with my accountant and will I am in conference with my accountant and will ring you back”ring you back”““The cheque is oThe cheque is onn the post” the post”Or a debtor may use his/her secretary in order to Or a debtor may use his/her secretary in order to cope with the situation by making her lie as:cope with the situation by making her lie as:““Mr. Rich is on a business trip and he’s not Mr. Rich is on a business trip and he’s not available now”available now”

Tips In DIY Debt CollectionTips In DIY Debt Collection::

Gather/record all he information you canGather/record all he information you can

Be professional at all timesBe professional at all times

Be persistentBe persistent

Make personal visitsMake personal visits

Offer alternate terms of paymentOffer alternate terms of payment

If nothing works, take the case to the If nothing works, take the case to the court.court.

CollectingCollecting B Byy L Legistation:egistation:

The most common option is the warranty of The most common option is the warranty of execution. Here, the court gives bailiffs the execution. Here, the court gives bailiffs the power to impound goods owned by the debtor- power to impound goods owned by the debtor- either at his/her home or business- the either at his/her home or business- the subsequently being auctioned off to raise the subsequently being auctioned off to raise the necessary capital.necessary capital.A WARNING!!!!!A WARNING!!!!!But as we all know, warrant But as we all know, warrant iif execution never f execution never helps the lender to recover all the money totally.. helps the lender to recover all the money totally.. For ex; The 1,8 million YTL worth Mercedes car For ex; The 1,8 million YTL worth Mercedes car of Cem Uzan could only be sold for a price of Cem Uzan could only be sold for a price slightly above 200,000 YTL by TMSF!!!!slightly above 200,000 YTL by TMSF!!!!

Alternatively, you can make a claim under a Alternatively, you can make a claim under a charging order, should the debtor decide to charging order, should the debtor decide to liquidate his/her financial assets.liquidate his/her financial assets.Is, on the other hand, the debtor is a company Is, on the other hand, the debtor is a company employee, an attachment of earnings order may employee, an attachment of earnings order may be enacted –in this case the debtor’s employer be enacted –in this case the debtor’s employer being instructed to deduct a portion of money being instructed to deduct a portion of money from the employee’s weekly/monthly earning to from the employee’s weekly/monthly earning to cover the debt.cover the debt.Worth pointing out, more generally, is that you Worth pointing out, more generally, is that you can force your debtor into carrying out an oral can force your debtor into carrying out an oral examination before the court if you require examination before the court if you require further information on him/her. This may be further information on him/her. This may be influential in terms of how you further proceed.influential in terms of how you further proceed.

Taking an unsuccessful debt collecting Taking an unsuccessful debt collecting case to court has such a disadvantage case to court has such a disadvantage that, however the creditor gets all his that, however the creditor gets all his money back, most of that money is gone money back, most of that money is gone to court & lawyer expensesto court & lawyer expenses

““Dont sue george when harry owes you Dont sue george when harry owes you money”money”

Thousands of people sue someone-or some Thousands of people sue someone-or some legal structure- thats simply not involved!!! legal structure- thats simply not involved!!! İf you are handling the legal action İf you are handling the legal action yourself-and thats what we are talking yourself-and thats what we are talking about in this chapter- then make sure you about in this chapter- then make sure you go after the right debtor.go after the right debtor.

İf the debtor is an individualİf the debtor is an individual

Just go after the person whom you lend Just go after the person whom you lend the money.the money.

*İf the debtor is a sole trader:*İf the debtor is a sole trader: Just go after the person behind itJust go after the person behind it *İf the debtor is a partnership:*İf the debtor is a partnership: This time you are dangerous waters. This time you are dangerous waters.

There may be a thousand of partners, you There may be a thousand of partners, you should sue each of the partnersshould sue each of the partners

If the debtor is a trustIf the debtor is a trust

*You sholud sue that whole long name-*You sholud sue that whole long name-like “viacorp pty ltd atf james heath family like “viacorp pty ltd atf james heath family trust ta j&e copywriting”trust ta j&e copywriting”

İf the debtor is a companyİf the debtor is a company

*You can sue the company,itself.*You can sue the company,itself.

Türkiye case:Türkiye case:

Türkiye’s most important legal debt collecter is Türkiye’s most important legal debt collecter is TMSF.TMSF.

TMSF yasal olarak el koyduğu şirketlerin TMSF yasal olarak el koyduğu şirketlerin malvarlıklarını borçlarını karşılamak üzere satışa malvarlıklarını borçlarını karşılamak üzere satışa cıkardı:cıkardı:

TMSF son dönemde el koyduğu TMSF son dönemde el koyduğu şirketlerden bazılarını borçlarını tahsil şirketlerden bazılarını borçlarını tahsil etmeyi hızlandırmak için eski sahipleriyle etmeyi hızlandırmak için eski sahipleriyle anlaşma imzalayarak iade ettianlaşma imzalayarak iade etti

Burdaki amaç: borçların tam olarak geri Burdaki amaç: borçların tam olarak geri alınamayacağından dolayı geri iadeyle alınamayacağından dolayı geri iadeyle şirketler üzerinden borçları tahsil etmek…şirketler üzerinden borçları tahsil etmek…

Using A Third PartyUsing A Third Party

Debt Chasing & Risk Management Debt Chasing & Risk Management Consulting FirmsConsulting Firms

Factoring agenciesFactoring agencies

Non court actionsNon court actions

Statuory demandsStatuory demands

Solicitors specialising in debt collectionSolicitors specialising in debt collection

Using a private investigatorUsing a private investigator

Debt Chasing & Risk Debt Chasing & Risk Management Consulting FirmsManagement Consulting Firms

Why?Why?

May be necessary when the firm doesn’t May be necessary when the firm doesn’t have a credit departmanthave a credit departmant

A good “risk monitoring and credit A good “risk monitoring and credit management system” is cruical.management system” is cruical.

Because you can kontrol your risk by Because you can kontrol your risk by monitoring debt chasingmonitoring debt chasing

PrinciplesPrinciples Business shall be conducted so as to foster and Business shall be conducted so as to foster and

maintain respect and confidence in the collection maintain respect and confidence in the collection industry.industry.

Laws and regulations shall be strictly observed in the Laws and regulations shall be strictly observed in the name of good relations with the authorities.name of good relations with the authorities.

Cases shall be handled speedily, professionally, Cases shall be handled speedily, professionally, efficiently and correctly.efficiently and correctly.

Client contacts shall be maintained throughout case Client contacts shall be maintained throughout case processingprocessing

Client funds shall be held in separate accounts.Client funds shall be held in separate accounts. Strict security shall be maintained regarding all Strict security shall be maintained regarding all

information acquired by the collection companyinformation acquired by the collection company The debtor's integrity shall be respected at all times.The debtor's integrity shall be respected at all times.

Factorin Agencies:Factorin Agencies:

Factoring agencies:Factoring agencies: Work on a no collection-no fee basis Work on a no collection-no fee basis and charge 5-15 % of amonts collected, depending on and charge 5-15 % of amonts collected, depending on complexity and volume. Good ones collect over %80 in complexity and volume. Good ones collect over %80 in the first month because of their third party effect and full the first month because of their third party effect and full ime effort.ime effort.Factoring:Factoring: Is the selling of accounts receivable on Is the selling of accounts receivable on acontract basis by the business holding them in order to acontract basis by the business holding them in order to obtain cash payment of the accounts before their actual obtain cash payment of the accounts before their actual due date – to an agency known as factor. The factor due date – to an agency known as factor. The factor than assumes full responsibility for credit analysis of new than assumes full responsibility for credit analysis of new accounts, payment collection and credit loses.accounts, payment collection and credit loses.

The result is more profitThe result is more profit

It will be not necessary to offer incentive, It will be not necessary to offer incentive, discounts, etc- to collect on receivables on discounts, etc- to collect on receivables on time.with these approaches in operation time.with these approaches in operation you wont need to factor or discount your you wont need to factor or discount your invoices. Because the cheques are invoices. Because the cheques are coming in sooner, your cash flow coming in sooner, your cash flow improves, the overdraft decreases(less improves, the overdraft decreases(less interest to pay) and you have funds interest to pay) and you have funds available for expansion.available for expansion.

Non court actions; include options such Non court actions; include options such as negotiation, mediation,conciliation and as negotiation, mediation,conciliation and arbitration.arbitration.Statuory demands; can be sent by tghe Statuory demands; can be sent by tghe seller, collection agent or solicitors seller, collection agent or solicitors promising an application to court for the promising an application to court for the formal winding up of the business if formal winding up of the business if payment is not made xx days.payment is not made xx days.Solicitors specialising in debt collection; Solicitors specialising in debt collection; issue powerful letters in a short space of issue powerful letters in a short space of time, charging a pre-aggreed fee.time, charging a pre-aggreed fee.

Using a lawyer as a shock tacticUsing a lawyer as a shock tactic

You can try asking your lawyer to send the You can try asking your lawyer to send the debtor a letter. The idea is to startle the debtor a letter. The idea is to startle the debtor into paying. This sometimes works.debtor into paying. This sometimes works.

Letter example:Letter example:

““we act on behalf of saldıray ltd and we we act on behalf of saldıray ltd and we are instructed that you are indebted to our are instructed that you are indebted to our client to the amount of 1200$.client to the amount of 1200$.

we advise that if the sum of 1200$ is not we advise that if the sum of 1200$ is not

received by our office within fourteen days received by our office within fourteen days of the date here of our client will issue of the date here of our client will issue proceedings against you for that sum proceedings against you for that sum without further notice to you”without further notice to you”

Using a private investigatorUsing a private investigator

Not many people think of hiring a private Not many people think of hiring a private investigator to help collect a debt. İf you investigator to help collect a debt. İf you hire one who works freelance, its not hire one who works freelance, its not ferociously expensive. These guys can ferociously expensive. These guys can find out anything – or find anyone(if thats find out anything – or find anyone(if thats the problem).the problem).

Threat:Threat:

Threat is another tool for collecting debt. İt Threat is another tool for collecting debt. İt usually includes violence or physical usually includes violence or physical disruption. İt is definitely not advisable, but disruption. İt is definitely not advisable, but may be usedmay be used if nothing works and you if nothing works and you cannot still get your money back…cannot still get your money back…

The purpose of tactics in negotiation is to get the The purpose of tactics in negotiation is to get the desired result. Debt-chasing is a difficult tactic to desired result. Debt-chasing is a difficult tactic to implemen because: implemen because:

*some people do not pay and never intended to*some people do not pay and never intended to

*some people intended to pay but find it *some people intended to pay but find it convenient to payconvenient to pay

* some people do not pay because they cant * some people do not pay because they cant paypay

*some people only pay if you make them pay*some people only pay if you make them pay

So every lender should consider So every lender should consider the followings before lendingthe followings before lending

İt is advisable for the lender to check the İt is advisable for the lender to check the credit worthiness of the debtor, since non-credit worthiness of the debtor, since non-payment could be an indcation of financial payment could be an indcation of financial difficulty.difficulty.

* tighten p your credit policy. Check on * tighten p your credit policy. Check on people and companies before you give people and companies before you give them credit. Also, get as much as you can them credit. Also, get as much as you can in writing about your aggreements, in writing about your aggreements, delivery terms etc…delivery terms etc…

* before you start chasing a debtor using legal * before you start chasing a debtor using legal proceedings, find out if hes worth chasing. That proceedings, find out if hes worth chasing. That is, find out if you ll get something at the end of it is, find out if you ll get something at the end of it all.all.

*be ready to compromise and negotiate at any *be ready to compromise and negotiate at any stage…stage…

*collect large debts by sending someone *collect large debts by sending someone around personally. Do it yourself if you have the around personally. Do it yourself if you have the time…time…

*if you still get a stream of hard to collect debts *if you still get a stream of hard to collect debts then find a good debt collection agency and sing then find a good debt collection agency and sing up with them…up with them…

* keep in mind what a private investigator * keep in mind what a private investigator can do for you. Sometimes the easiest can do for you. Sometimes the easiest way to get a cheque is to ave one of these way to get a cheque is to ave one of these gentlemen help you…gentlemen help you…

*if the debtor is using a lawyer, then use a *if the debtor is using a lawyer, then use a lawyer too…lawyer too…

İt is very rediculuous for a smart lender chasing İt is very rediculuous for a smart lender chasing the debt with lots of summons on his hand when the debt with lots of summons on his hand when there is nothing left from the ebtor and nothings there is nothing left from the ebtor and nothings therethere

for example on an individual debtor you should for example on an individual debtor you should get information like the following;get information like the following;

* driving license number and date of birth* driving license number and date of birth * name of employer and previous employer* name of employer and previous employer *adress, adress before..*adress, adress before.. *credit services banks etc that have beeen *credit services banks etc that have beeen

enquiring about him…enquiring about him…

On a compan you can get information like this;On a compan you can get information like this; *trading adress and registered office*trading adress and registered office *incorporation detailsissued shares and paid *incorporation detailsissued shares and paid

capital…capital… *details of directors…*details of directors… *writs and summonses served and *writs and summonses served and

outstanding court judgements…outstanding court judgements… * default information including written off * default information including written off

accounts and accounts referred to a collecton accounts and accounts referred to a collecton agency…agency…

How debtors deflect attacks?How debtors deflect attacks?

Ignore the attack ( pretend they didn’t hear Ignore the attack ( pretend they didn’t hear the attack an go on talking about the the attack an go on talking about the problem.)problem.)

Reframe an attack as an attack on Reframe an attack as an attack on problem ( reinterpret the attack.)problem ( reinterpret the attack.)

How debtors deflect attacks?How debtors deflect attacks?

Reframe from past wrongs to future Reframe from past wrongs to future remedies.remedies.

Reframe from “you” and “me” to “we”Reframe from “you” and “me” to “we”

You are so wealthy and we are so poor.You are so wealthy and we are so poor.

Reframe a personal attack as friendly.Reframe a personal attack as friendly.(misinterpret it as friendly.)(misinterpret it as friendly.)