How to find if a Business is Still Trading – the Easy Way…
If a company owes you money and you want to know if the debtor is still in business, one of the simplest tests to find out if a company or business is still operating and trading is simply to call their main phone number.
So many times I am asked what strategy I would suggest in order to recover a debt, or what collections activity I would recommend for a business that owes money. This depends on a number of different factors and conditions, but in many instances the business owed money, the Creditor, aren’t sure if the business that owes them money is still trading. They may have sent numerous statements and letters to the company that owes the debt but without a response.
It may seem obvious but it’s easy to fall in to a routine of sending out letter after letter without actually picking up the phone and trying to contact the debtor that way. By far the simplest and cheapest test how to find if the debtors business is still in business and trading is just to call the main business telephone number.
A businesses telephone number is sacred. If it is answered by the company then this is evidence that there is a business still operating and accepting calls for new business. However if the phone line is dead, chances are so is the business, and the prospects of recovery low.
If a business is ignoring your letters and you aren’t sure if they are still trading, always remember to try them on the phone first – you’d be amazed how often this simple thing is overlooked!Quickly recovering debts can mean the difference between your business succeeding or failing. If you are owed money but can’t get the debtor to pay, contact Simpson Millar LLP (formerly Colemans) today on 0808 129 3320 to find out how we can help you get what’s rightfully yours and safeguard your business.