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:
“I would like you to buy me a yearling” says Mr Owner.
“Great, we’ll meet at the October sales” 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.
“What the hell!” says the new king of the turf, “let’s have a filly as well.”
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 £38,000.
“Please send me the invoice and I’ll sort it out” say Mr Owner.
Mr Trainer is left with Hobson’s Choice and loads the two animals on to his horse box.
THE CHASE BEGINS
The invoice is duly dispatched to the owner – £38,465.
This is followed by a statement at the end of the month. You could have heard a pin drop.
Next step — 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 Owner’s motto is “Silence is Golden”.
“Ah!” thinks Mr Trainer “now where do I go from here?”
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 “all weather” second lot next Friday.
Friday morning is here and Mr Trainer lives in hope that Mr Owner will turn up. At last, a loud “hello” is followed by Mr Owner in his country attire. They watch a three-furlong spin and then return to Mr Trainer’s house for a hearty breakfast.
“Sorry I’ve not been in touch” expresses Mr Owner “but I have been so busy. I will sort a cheque out very soon.”
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 £52,000.
Statements, letters, abortive phone calls — no wonder it’s not just the young horses in the yard that are giddy.
“Ah!” thinks Mr Trainer again “now where do I go from here?” County Court, solicitors, debt collectors? Oh dear, it seems a mind-boggling minefield……
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