The document provides guidance on debt recovery, emphasizing the importance of knowing the customer’s identity, whether an individual or organization, to enhance recovery prospects. It highlights different considerations for sole traders, partnerships, limited companies, and other entities, listing necessary details like addresses, partner information, and company registration numbers. Additionally, it outlines banking and employment details that may assist in recovering debts and includes contact information for further inquiries.

2. Social Media
Follow: @TheBusJourney
Hashtag: #SMEJourney

4. Debt Recovery – Know Your
Customer
Alan McKee
Director
Macdonald Henderson

5. Introduction
In the event that your customer
becomes a debtor, the more relevant
information you have the better your
prospects of making a recovery.

6. Identity
 Not always obvious who exactly is the customer
 Sole trader, limited company, partnership or
other type of corporation?
 Make sure you are clear which individual or
organisation is behind the business name

7. Identity - Individual
 Individual trading as a particular business
 Business and personal addresses
 Pursue payment from all assets of individual; not
just assets which relate to business

8. Identity - Partnership
 Details of partnership itself
 Names and addresses of individual partners
 Each of the partners liable for the debts of the
partnership
 Pursue payment from all of them

9. Identity – Limited companies
 Potential confusion
 Group companies/similar names
 Need precise name of company and registration
number
 Companies House
 Disputes re indebtedness

10. Identity - other
 Local authority/other government body
 Need for clarity
 Examples - Culture & Sport Glasgow, the
NHS

11. Contact details
 Current address
 Email address
 Mobile number
 National insurance number
 Tracing agents
 Notice board at Court/newspaper
 Delay and expense

12. Banking and employment details
 Banking details of customer
 Details of other third-parties who may hold funds
payable to customer
 Freezing of funds held by third parties
 Earnings arrestment

13.  Macdonald Henderson Solicitors
Standard Buildings
94 Hope Street
Glasgow
Scotland
G2 6PH
 Tel. +44(0) 141 248 4957
Fax +44(0) 141 248 4986/8455
 Email:
Alan McKee alan@macdonaldhenderson.co.uk

14. Questions for Alan

15. Date for the diary
The next Business Journey
event
November 12