If I tut-tut about cases of multiple debts going back maybe years, you’ll probably assume that I’m sniping at ne’er-do-wells who borrow without intending to repay and who make lenders’ lives a misery.

No, I mean lenders. Because creditors can be guilty of precisely those faults they criticise in debtors: improvidence, disorganisation, and procrastination.

There are people who lend to relatives or even strangers without security. Some people lend without knowing who they have the agreement with. Many are owed money by numbers of debtors and do absolutely nothing, while others threaten action, do nothing, and so lose all credibility.

And action isn’t necessarily difficult. I have handled cases of multiple indebtedness where I have recovered some of the debts with a single phone call and the majority within 48 hours. On one occasion, a debtor who refused payment on Monday settled in full on Tuesday!

I’m often told that creditors hesitate to act for fear of losing a customer, especially in competitive markets. I really do wonder why the custom of a non-payer is so valuable: an unpaid builder, for example, is losing not simply profit, but also working capital spent on labour. And in any case, as I stressed in my previous newsletter, responsible debt collectors like myself seek to preserve relationships, not sever them.

Of course, some debts are irrecoverable, as we’ll see in a future letter. But the sooner you act, the better the chance of success. And even if I fail to recover your money, you will at least know where you stand: you’ll have information allowing you to decide whether to give up a pointless chase or take legal action.

In the event of legal action, of course, I am able to act for you.

So if I am to act for a client, who might that client be? Clients can be local traders or professionals, a plumber, solicitor, landlord or hairdresser. Additionally, through London House, I am retained by major banks and building societies. And, of course, I work for private individuals whose problems involve family or friends.

However, any of these clients is capable of doing nothing about money they’re owed. It’s an awkward predicament from which I can release them.

Because debtors, please note! As we shall see, however long the delay, however far you roam, you can still be traced!

For information on any matter relating to the above, call David Degiorgio on his mobile 07740 443083 at any time. Other services include Trace Enquiries, Information Gathering, Process Serving and Fraud Investigation