A CAUTIONARY TALE – A TRUE STORY
One day an up and coming trainer is approached by a potential new owner. Their exchange
goes something like this:
â€œI would like you to buy me a yearlingâ€ says Mr Owner.
â€œGreat, weâ€™ll meet at the October salesâ€ says Mr Trainer.
They duly meet in the sales ring, the new owner excitedly pouring over his catalogue and discussing a possible purchase.
Mr Trainer eventually has a bay colt knocked down to him and Mr Owner has a grin from ear to ear.
â€œWhat the hell!â€ says the new king of the turf, â€œletâ€™s have a filly as well.â€
The catalogue comes out again and after being outbid three times, the purchase of a fine chestnut filly is agreed. The total spent, including the commission comes to Â£38,000.
â€œPlease send me the invoice and Iâ€™ll sort it outâ€ say Mr Owner.
Mr Trainer is left with Hobsonâ€™s Choice and loads the two animals on to his horse box.
THE CHASE BEGINS
The invoice is duly dispatched to the owner – Â£38,465.
This is followed by a statement at the end of the month. You could have heard a pin drop.
Next step â€“ the telephone (only got the mobile, of course). How many voicemails can you leave!
An increasingly desperate but nevertheless friendly reminder letter follows.
It would seem Mr Ownerâ€™s motto is â€œSilence is Goldenâ€.
â€œAh!â€ thinks Mr Trainer â€œnow where do I go from here?â€
FUN ON THE GALLOPS
Mr Owner finally contacts the Mr Trainer. To pay? Not just yet, but to find out when the yearling (nearly a two year old) will be working.
Mr Trainer meekly informs him to come to the â€œall weatherâ€ second lot next Friday.
Friday morning is here and Mr Trainer lives in hope that Mr Owner will turn up. At last, a loud â€œhelloâ€ is followed by Mr Owner in his country attire. They watch a three-furlong spin and then return to Mr Trainerâ€™s house for a hearty breakfast.
â€œSorry Iâ€™ve not been in touchâ€ expresses Mr Owner â€œbut I have been so busy. I will sort a cheque out very soon.â€
ANOTHER NEW YEAR IS HERE
Mid-January arrives and still no payment is received from Mr Owner. The total now outstanding, with the training fees and incidentals added on is Â£52,000.
Statements, letters, abortive phone calls â€“ no wonder itâ€™s not just the young horses in the yard that are giddy.
â€œAh!â€ thinks Mr Trainer again â€œnow where do I go from here?â€ County Court, solicitors, debt collectors? Oh dear, it seems a mind-boggling minefieldâ€¦…
THE MORAL OF THE STORY
Consider carefully before giving credit to anyone without the essential background checks.
AR Legal Collections Limited can advise you before you get into a pickle with your debtors. Alternatively, they will use their considerable knowledge and skills to recoup your outstanding debts.
For free initial advice or a general discussion, please contact AR Legal Collections
Tel : 020 8202 0730