Debts the way to do it

Debts the way to do it

Debts the way to do it

A Braintree-based business that specialises in collecting debt is opening its doors to share it knowledge with firms in the Stansted area.

Shergroup, the UK’s largest High Court Enforcement Agency, collects millions of pounds in debts owed to its clients annually, including planes to sell at auction to service debts.

Now it is holding free drop-in debt clinics, from this week, every Friday morning to businessmen and women who need to discuss how best to manage their debtors.

Shergroup’s chief executive, Claire Sandbrook, who is also a solicitor, said: “We’ve years of experience in chasing debtors, including those in the aviation sector, and we are happy to share our professional advice with others.”

She said many businesses find themselves strapped for cash because others fail to pay them on time and they are left with the headache of extracting money from their debtors.

“Unfortunately, debt is a fact of life these days and the estimates are that there is £1.3 trillion of personal debt in this country alone, which we are told now exceeds the UK’s Gross Domestic Product.”

“For those businesses relying on consumer spending that’s very worrying,” said Claire.

“But decision makers can take some very simple steps before they give credit and my best advice is find out as much as you can about your debtor beforehand.”

“Businesses need to think of every potential customer as someone who could default.”

“If only credit granters asked some simple questions before they granted credit then they would know where their debtors? assets lay.’

If you need advice about your sales ledger issues drop into Shergroup Limited, 1 Fetter Lane, London, United Kingdom, EC4A 1BR. Call for further information on 0845 890 9200 or log on to