Bad credit score for agency.

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DiscoStu replied

30 June 2009, 19:22
My current agency has an atrocious credit rating due to only being set up last year. I'm being paid weekly in arrears, then at least I'm not going to lose too much if they do go tits up.
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Smurficus replied

30 June 2009, 19:18
Originally posted by Sockpuppet View Post

PCG Plus.

Insurance against your agy going tits up.

Won't really help me in this case as there is a 60 day "waiting period" for upgrades - will upgrade anyway as probably a good idea at the moment.

Thanks
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VectraMan replied

30 June 2009, 19:14
Originally posted by Sockpuppet View Post

PCG Plus.

Insurance against your agy going tits up.

Up to £5K IIRC. If they want you to invoice monthly on 30 day terms, you're still taking a large gamble (well hopefully you get more than £2500 per month).
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Sockpuppet replied

30 June 2009, 19:02
PCG Plus.

Insurance against your agy going tits up.
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pzz76077 replied

30 June 2009, 18:46
Originally posted by Smurficus View Post

I received confirmation today that ClientCo are happy to extend for another 3 months () and credit checked the agency just to make sure everything was okay - it wasn't, the recommended limit was £0!

I've already talked to the agent and he's said he'll get someone to talk to me but this will be next week at the earliest. The score could well just be due to late filing, but in this climate who knows.

Having decided to go to site tomorrow (first day of extension) I've started wondering if I should fire an email to the agent saying SmurfCo is reviewing the contract, with respect to the credit limit, but happy to continue supplying the service in good faith.

What are people's thoughts?

Limit you exposure:
Ask to be weekly paid and make sure you get a time sheet and invoice to them each week as quickly as humanly possible.

Tell them that you wont accept any monkey business and that you expect to be paid each week without fail.

Not much else you can do, if they go bust then you will only be 5 days out of pocket. Get ready to move (inc speaking with the client) to another agent if the present agent becomes insolvent.

You can check for late filing on the Companies House web site for free BTW.

Let us know how it goes.

PZZ
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Smurficus started a topic Bad credit score for agency.

30 June 2009, 18:39
Bad credit score for agency.

I received confirmation today that ClientCo are happy to extend for another 3 months () and credit checked the agency just to make sure everything was okay - it wasn't, the recommended limit was £0!

I've already talked to the agent and he's said he'll get someone to talk to me but this will be next week at the earliest. The score could well just be due to late filing, but in this climate who knows.

Having decided to go to site tomorrow (first day of extension) I've started wondering if I should fire an email to the agent saying SmurfCo is reviewing the contract, with respect to the credit limit, but happy to continue supplying the service in good faith.

What are people's thoughts?
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