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
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
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