Deanem Collections Ltd

Business Services

Funds Raised

£38,500.00

Final AER

17.77%

Loan term

60 MONTHS

Auction Closed

2015-07-28

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: Deanem Collections Ltd Company Number: 06209331
Business Type: Business Services Years Trading: 6-10 years
Business Location: 1339 HIGH ROAD

About the Risk

Risk rating

C

Default rate

13.00%

Bad debt rate

5.33%

About the Security

Security Offered:

All Assets Debenture - Fixed and floating charge created over all assets of applicant company

Est. Equity: 0.00

Personal Guarantee - PG from Mr Baum

Est. Equity: 0.00

Personal Guarantee - PG from Ms Baum

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Visit Our Website

Whilst on paper we are categorised as a Debt Collection Agency we actually provide outsourced credit control to Barrister Chambers, Accountant, Solicitors, Insolvency Practitioners, Local Authority, Registered Social Landlords along with a long list of commercial business. In addition, we provide tracing services for registered social landlords, pre-legal reports to solicitors. Credit checking on behalf of a number commercial clients, we also sell a Third Party Self-Administered debt collection letter system where the clients pre-buy a set number of letterheads.

Read more

Loan Offers

What is the loan for?

The money will be used in two vital areas. The first will be to improve our marketing within Chambers and the legal profession, including holding a paid conference in October. We will also be looking to employ at least 1 additional sales rep and another collector. However unlike our current employees we appreciate that these new members of staff will require a basic salary plus incentives. Unfortunately by doing this means that our current collectors will also require a basic salary plus commission whereas at the moment they are on a commission only structure.

Why consider investing?

Deanem are the only agency that are approved by the Bar Council to provide collection services to Barrister Chambers and are currently collecting a £3.1m ledger. There are currently 500 Chambers in London of which it has been estimated that approximately 75 – 80% have in outstanding debt ledger in the region of £1m. We are looking to increase our current Chambers client base from 7 to 20. A number of our current Chambers client base has come from personal recommendation but to increase our reputation amongst the Legal Profession we have recently been joined by Karen Gillard, a working Barrister and HRH Princess Katarina of Yugoslavia & Serbia (formally Lady Desmond Da Siva QC) who are acting as introducers.

Loan Security

The loan is to be secured by directors guarantee (supported by personal guarantee insurance) and an all assets debenture.

The directors do not own any property between them

DateAmountCapitalInterestReceived
29/08/2015£972.84£402.72£570.12
29/09/2015£972.84£408.68£564.16
29/10/2015£972.84£414.73£558.11 (18 days late)
29/11/2015£972.84£420.87£551.97 (15 days late)
29/12/2015£972.84£427.10£545.74
29/01/2016£972.84£433.43£539.41 (14 days late)
29/02/2016£972.84£439.85£532.99
29/03/2016£972.84£446.36£526.48
29/04/2016£972.84£452.97£519.87 (17 days late)
15/06/2016£972.84£459.68£513.161189 days overdue
15/07/2016£972.84£466.49£506.351159 days overdue
15/08/2016£972.84£473.39£499.451128 days overdue
15/09/2016£972.84£480.40£492.441097 days overdue
15/10/2016£972.84£487.52£485.321067 days overdue
15/11/2016£972.84£494.74£478.101036 days overdue
15/12/2016£972.84£502.06£470.781006 days overdue
15/01/2017£972.84£509.50£463.34975 days overdue
14/02/2017£972.84£517.04£455.80945 days overdue
18/03/2017£972.84£524.70£448.14913 days overdue
14/04/2017£972.84£532.47£440.37886 days overdue
15/05/2017£972.84£540.35£432.49855 days overdue
15/06/2017£972.84£548.36£424.48824 days overdue
15/07/2017£972.84£556.48£416.36794 days overdue
15/08/2017£972.84£564.72£408.12763 days overdue
15/09/2017£972.84£573.08£399.76732 days overdue
15/10/2017£972.84£581.57£391.27702 days overdue
15/11/2017£972.84£590.18£382.66671 days overdue
15/12/2017£972.84£598.92£373.92641 days overdue
15/01/2018£972.84£607.79£365.05610 days overdue
14/02/2018£972.84£616.79£356.05580 days overdue
18/03/2018£972.84£625.92£346.92548 days overdue
14/04/2018£972.84£635.19£337.65521 days overdue
15/05/2018£972.84£644.60£328.24490 days overdue
15/06/2018£972.84£654.14£318.70459 days overdue
15/07/2018£972.84£663.83£309.01429 days overdue
15/08/2018£972.84£673.66£299.18398 days overdue
15/09/2018£972.84£683.63£289.21367 days overdue
15/10/2018£972.84£693.76£279.08337 days overdue
15/11/2018£972.84£704.03£268.81306 days overdue
15/12/2018£972.84£714.46£258.38276 days overdue
15/01/2019£972.84£725.04£247.80245 days overdue
14/02/2019£972.84£735.77£237.07215 days overdue
18/03/2019£972.84£746.67£226.17183 days overdue
14/04/2019£972.84£757.72£215.12156 days overdue
15/05/2019£972.84£768.95£203.89125 days overdue
15/06/2019£972.84£780.33£192.5194 days overdue
15/07/2019£972.84£791.89£180.9564 days overdue
15/08/2019£972.84£803.61£169.2333 days overdue
15/09/2019£972.84£815.51£157.332 days overdue
15/10/2019£972.84£827.59£145.25Not Due
15/11/2019£972.84£839.85£132.99Not Due
15/12/2019£972.84£852.28£120.56Not Due
15/01/2020£972.84£864.90£107.94Not Due
15/02/2020£972.84£877.71£95.13Not Due
15/03/2020£972.84£890.71£82.13Not Due
15/04/2020£972.84£903.90£68.94Not Due
15/05/2020£972.84£917.28£55.56Not Due
15/06/2020£972.84£930.87£41.97Not Due
15/07/2020£972.84£944.65£28.19Not Due
15/08/2020£972.84£958.64£14.20Not Due
Total:£38,500.00£19,870.40