Daily Thought...




Credit Debt & Legal successfully collecting debts for 30 years!


The first Meeting of the Directors of Credit Debt & Legal took place on a park bench at the junction of Holborn Circus in 1982. The classic Greek architecture gateway entrance to the Church of St Andrews opposite, providing Stuart Hayes with the inspiration for the company's logo.

Stuart Hayes and Tommas Graves F.C.A had previously worked within the Metals Division of the multi-national Shell UK and had known each other for some years, during which time they had liaised on the considerable exposures to risk which London Metal Exchange trading brought upon the company's ring dealing Membership.

Tom, a Chartered Accountant by profession had been employed both in Practice, in the Stockbroking field and as a Financial Controller prior to setting up the base Office for the company that year in Hatton Garden. He also began and maintains a separate and flourishing Accountancy Practice to this day.

Stuart, a Fellow of the Institute of Credit Management, brought with him Credit Management expertise formed through many years in the City within Factoring Finance, and as a Group Credit Manager. Debt collection, the major asset of so many businesses was an area of involvement which had long occupied his time and energy. In tirelessly maintaining exposure to loss to a minimum, he developed that "sixth sense" to react spontaneously to enhanced risk and the elimination of it. It was his vision to provide a professional service to small companies where major companies funded in-house expertise by personnel recruitment. Professional expertise on tap, at a price consistent with results.

Of course, the concept of outsider debt collection was not new. But the debt collection industry had an altogether shaky past and many companies even today make their money by charging the client 'up-front' for a service that they do not actually perform. A sort of double whammy for the poor old creditor who is sold the optimism of the Agent and perhaps the lie that the Agent 'has just recovered money' from that very same debtor. Then the let down, when no result occurs and contact with the agent is thwarted at every turn.

Stuart's belief that clients should only be charged on success is paramount to Credit Debt & Legal's philosophy.

From these humble beginnings the company has continued to provide a very personal service to clients. Growth has been deliberately constrained so as to maintain that essential smallness of scale and 'personality' which so many businesses lose when their growth dilutes their attentiveness to service and performance.


CDL Founded 1982



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