150,000 bankrupts

[CRAZY K]

Apparently thats the estimate for 2008:eek:

Not very encouraging.

Does anyone do credit searches on potential customers at the moment?


CRAZY K

[Vectis]

Hopefully the certain person who was on TV again recently will be one of them :cool:

I don't currently credit search. For private bookings I usually take around 30% of the fee upfront and I have a signed agreement with them which is good enough for a county court for the balance.

For hotels and businesses same goes but for block or large bookings I make use of the services of a mole I have who's spent 30 years working in the local chamber of commerce. It helps that I live in a small insular place as rumours spread fast & not very wide.

[CRAZY K]

Hopefully the certain person who was on TV again recently will be one of them :cool:

I don't currently credit search. For private bookings I usually take around 30% of the fee upfront and I have a signed agreement with them which is good enough for a county court for the balance.

For hotels and businesses same goes but for block or large bookings I make use of the services of a mole I have who's spent 30 years working in the local chamber of commerce. It helps that I live in a small insular place as rumours spread fast & not very wide.

Thats handy, sadly a County Court judgement for our money doesnt cut any ice with bankrupts who usually by definition --have no money:eek:

Daniel--I knew there was someone we should have recommended to that DJ who was looking for new Agencies ;)

Must say I think the time may not be far away when checking up might become a good idea--thatll be after one of us gets taken for a ride:D

CRAZY K

[jamesh]

Apparently thats the estimate for 2008:eek:

Not very encouraging.

Does anyone do credit searches on potential customers at the moment?


CRAZY K

Nope don't credit search anyone or any company for bookings but then generally haven't needed too so far..

Payment wise I tend to take a £100 booking confirmation fee at the time of booking (only refundable for first 14 days of booking) and the remaining balance has to be paid 14 days before the function other wise the booking is cancelled....

So far seems to have worked well.

[PropellerHeadCase]

Following on from that I suspect a lot more people are going to be changing to the 'payment in advance' method of surety. No money, no gig - and you don't have to leave the house and lug the gear, much less play the gig, to find out that the money won't be forthcoming.

[wensleydale]

Apparently thats the estimate for 2008:eek:

Not very encouraging.

Does anyone do credit searches on potential customers at the moment?


CRAZY K

i think this is one of the most ridiculous posts i have seen.

how many bankrupts were there in 2007?

if you take "normal" precautions I cant see why you would have a problem.

I dont even think you can credit search someone without there permission which wont go down well.

If you are that worried just get payment in advance.

Why do people always seem to look for negatives?

If you are any good you will always get work- people still get married and have celebrations when there are recessions.

Good to know the 2008 optimism lasted all of 2 days....

[Vectis]

i think this is one of the most ridiculous posts i have seen.

how many bankrupts were there in 2007?

if you take "normal" precautions I cant see why you would have a problem.

I dont even think you can credit search someone without there permission which wont go down well.

If you are that worried just get payment in advance.

Why do people always seem to look for negatives?

If you are any good you will always get work- people still get married and have celebrations when there are recessions.

Good to know the 2008 optimism lasted all of 2 days....


I think this is one of the most ridiculous responses I have seen.

It started with a genuine, sensible question. A genuine, sensible answer would have been "no and I see no reason to start" :confused:

Anyone (especially sole traders) binding a lump of their resource (and therefore earning capacity) into a large contract should surely cover their backside? I'm sure Crazy wasn't suggesting credit searching every bride and groom... ;)

[wensleydale]

I think this is one of the most ridiculous responses I have seen.

It started with a genuine, sensible question. A genuine, sensible answer would have been "no and I see no reason to start" :confused:

Anyone (especially sole traders) binding a lump of their resource (and therefore earning capacity) into a large contract should surely cover their backside? I'm sure Crazy wasn't suggesting credit searching every bride and groom... ;)

but who exactly would you credit search then?

i just think some people, not necessarilly "CRAZY K" are constantly going on about how bad things are and everythings getting worse.
When in reality a simple solution that many people do here already and has been discussed in detail over the last few days is to get payment in advance if you are not sure about the client.

I really cannot see how the amount of bankrupts increasing will have any effect on us.

I just think there is more productive ways to spend your time than "what if" scenarios.

Apologies if I caused offense but it just seems to be happening more and more and more.

[PropellerHeadCase]

Is that number indicative of an increase in bankruptcies? Is that in relation to personal or business debt? Bearing in mind that someone who has been declared bankrupt due to a business failing may still, in fact, be very wealthy indeed.

[CRAZY K]

Is that number indicative of an increase in bankruptcies? Is that in relation to personal or business debt? Bearing in mind that someone who has been declared bankrupt due to a business failing may still, in fact, be very wealthy indeed.

Personal bankruptcies increasing--10,000 predicted by end of March.

People can use any business model they like--im saying I think you need to keep your eye on this growing trend--

Negative? No this is whats happening in the real world--if you choose to ignore it thats fine--im only trying to be helpful:bang: :bang: :bang:

CRAZY K

[PropellerHeadCase]

And fair enough, too.

It's good news for me as far as coming to the UK and getting a good price on a foreclosed home, but not so great on the translating my DJing to the UK market... we shall see.

Fortunately my wife has all but secured a contract with a local firm who wants someone on the ground in the UK to help them employ specialist construction/engineering types and start the immigration process for them - I suspect hard times in Blighty will make NZ a very attractive option for people in that industry.

As always, swings and roundabouts.

[Solitaire Events Ltd]

but not so great on the translating my DJing to the UK market... we shall see.



You'll be fine - keep reading the site. ;)

And if need be, I'll be 100m down the M4 if you want to see a UK DJ work. :) (Remind me to take a thesaurus and dictionary to the gig though :p )

[rob1963]

I really cannot see how the amount of bankrupts increasing will have any effect on us.

Are mobile disco companies immune to going bankrupt then?

Surely if the overall number of businesses going bankrupt increases this year, then the number of mobile discos going bankrupt will also increase?

Why wouldn't it?

:shrug:

[PropellerHeadCase]

You'll be fine - keep reading the site. ;)

And if need be, I'll be 100m down the M4 if you want to see a UK DJ work. :) (Remind me to take a thesaurus and dictionary to the gig though :p )

You undersell yourself, sir, I doubt you'll need either.

The offer, however, has been added to my file ;)

[Vectis]

And if need be, I'll be 100m down the M4 if you want to see a UK DJ work. :)

That's nice isn't it? Extend such an invitation to one of the colonial island-dwellers on here but not the other? :( :p

[PropellerHeadCase]

I wasn't aware that Vectis Insulus was a colony ;)

[wensleydale]

Are mobile disco companies immune to going bankrupt then?

Surely if the overall number of businesses going bankrupt increases this year, then the number of mobile discos going bankrupt will also increase?

Why wouldn't it?

:shrug:

the original quote was about credit searching customers, not mobile disco businesses going bust.

i just cannot see how that would work-
"yes, i would really like to work for you but you dont sound solvent so would you mind signing this form so i can do a credit search on you. and by the way, can you please arrange for a meal for me at your wedding too?"

[Vectis]

I wasn't aware that Vectis Insulus was a colony ;)


Sure... we get invaded by the North Islanders every summer. Been going on for generations :)

[rob1963]

the original quote was about credit searching customers, not mobile discos going bust.

i just cannot see how that would work-
"yes, i would really like to work for you but you dont sound solvent so would you mind signing this form so i can do a credit search on you. and by the way, can you please arrange for a meal for me at your wedding too?"

In that case...sorry Rich, I misunderstood you.

I completely agree that you can't go around credit scoring people!

:)

[rob1963]

Does anyone do credit searches on potential customers at the moment?

I don't think there's any need to, as I'm sure virtually all of us have been paid in full BEFORE we start the gig, in which case there should be no problem.

:)

[Vectis]

I don't think there's any need to, as I'm sure virtually all of us have been paid in full BEFORE we start the gig, in which case there should be no problem.

:)


Sure, the odd single booking you're pretty well covered by the booking fee (in my case certainly covers the cost of staying at home) and the 'payment on arrival' stance.

The problem lies with organisations who give you a repetitive or a block booking, then renege when it's too late for you to find alternative work (plenty of Xmas/NYE examples on this very board of late). You've committed resource, they've gone bump, you're unlikely to find replacement bookings, you're down £££s.

[rob1963]

Sure, the odd single booking you're pretty well covered by the booking fee (in my case certainly covers the cost of staying at home) and the 'payment on arrival' stance.

The problem lies with organisations who give you a repetitive or a block booking, then renege when it's too late for you to find alternative work (plenty of Xmas/NYE examples on this very board of late). You've committed resource, they've gone bump, you're unlikely to find replacement bookings, you're down £££s.

That's fair comment, Vectis.

Fortunately, it doesn't affect me...as all my work is one off stuff, and I don't do block bookings for hotels etc.

[Solitaire Events Ltd]

That's nice isn't it? Extend such an invitation to one of the colonial island-dwellers on here but not the other? :( :p

That offer is open to anyone. ;) My door is always open and phone always available.

I didn't think you'd need to see a 'UK' DJ work though Martin, having been around for a while. ;)

[CRAZY K]

Sure, the odd single booking you're pretty well covered by the booking fee (in my case certainly covers the cost of staying at home) and the 'payment on arrival' stance.

The problem lies with organisations who give you a repetitive or a block booking, then renege when it's too late for you to find alternative work (plenty of Xmas/NYE examples on this very board of late). You've committed resource, they've gone bump, you're unlikely to find replacement bookings, you're down £££s.

Agreed :D

CRAZY K

[PropellerHeadCase]

I didn't think you'd need to see a 'UK' DJ work though Martin, having been around for a while. ;)

He didn't want to feel left out ;)