Protective Controlled Goods Agreement
Protective Controlled Goods Agreements are particularly suited to tenants experiencing problems with cash flow or drops in trade.
If your tenants are frequently experiencing trading difficulties and have therefore accrued rent arrears with you, we can provide a resolution. At Collect My Debt, we have years of experience when it comes to Protective Controlled Goods Arrangements. If you suspect that your tenant may also be experiencing problems with debts such as VAT and business rates, it is important to act as soon as possible before the situation spirals out of control. Should another enforcement company decide to Take Control of Goods in order to obtain the money owed to them, any payment you might wish to arrange could be compromised, unless you put a Protective Controlled Goods Agreement in place to protect you.
Are your tenant/s experiencing regular or seasonal trading difficulties?
Have they accrued rent arrears with you?
Are you aware that your tenant may owe monies to others such as VAT, Business Rates, Business Debts or Suppliers who may take enforcement action too?
Other enforcement companies are not interested in any landlord rent arrears, they are instructed to Take Control of Goods to ensure their client recovers monies owed to them. If this was to happen then any payment arrangement the landlord might want to implement is greatly compromised without you having a Protective Controlled Goods Agreement (PCGA) in place.
If you answered YES to any of the above questions, then you need to safeguard yourself and your landlord. There must be adequate protection in place by way of a Protective Controlled Goods Agreement (PCGA) over all of the goods and chattels found on site.
If you don’t take the action then it could leave you with nothing, even an empty unit or no rent collected if another enforcement agent was to remove your tenant’s goods.
Implementing The Solution
• Instruct CMD as soon as possible so we can issue the compliance letter
• CMD will negotiate with the tenant
• CMD will enter into an agreed Protective Controlled Goods Agreement with the tenant
Once the Protective Controlled Goods Agreement (PCGA) is in place the landlord is protected throughout the whole of the payment plan. Once the landlord has control of the tenant’s goods, both tenant and landlord are protected against any of their creditors who may proceed with enforcement action.
It works in the same manner as a CRAR instruction where by a 7-day Notice of Enforcement is sent to the tenant. The notice has a section informing the tenant the landlord is willing to offer a Protective Controlled Goods Agreement (PCGA), therefore reducing their charges. Our enforcement agent will visit the tenant on an agreed date, take control of the goods as well as set up a payment arrangement. This gives the tenant the option of paying by regular instalments direct to the landlord or we can handle the collection.
If the tenant was to default, then a 48-hour warning notice is sent advising them to bring their arrears up to date. Where no payment is received, the landlord has the protection of CRAR. The rent that is outstanding becomes immediately due for payment, therefore an agent will be sent out to recover the balance. Where the tenant cannot or will not pay, the law allows the enforcement officer to remove goods to cover the outstanding balance as described in the Sale Stage.
The benefits of Protective Controlled Goods Agreement (PCGA)
• Best suited to tenants who have cash flow problems or a downturn in business/ poor seasonal trading conditions.
• Get there first before other creditors – give you and your tenant the best protection
• 7-day notice goes to the tenant as instructed by CRAR
• With a pre-arranged date and time to visit the tenant. They know what the enforcement agent is attending for, when and why
• Allows you to be in control until payment in full is made giving you and your tenant protection
• A reduced rate of charges enabling your tenant help with their business
• Make sure you are in control prior to agreeing a lengthy payment plan
• Why risk a payment arrangement without Protective Controlled Goods Agreement (PCGA).
Don’t fall to the back of the queue
If you fail to take action, you could be left with nothing. We can issue a compliance letter as soon as we receive instruction from you and negotiate with your tenant on your behalf. We can enter into a Protective Controlled Goods Agreement with your tenant so you are protected throughout the entire payment plan. Once you obtain control of your tenant’s goods, you and your tenant will be protected from creditors wishing to proceed with enforcement action. A Collect My Debt enforcement agent can visit your tenant to take control of goods and set up a payment arrangement. Your tenant can either make payments directly to you via regular instalments, or collection can be handled by us.
The protection you deserve
Should your tenant default, they will be sent a 48-hour warning notice instructing them to pay their arrears. Should no payment be received, the landlord will have the protection of CRAR. The outstanding rent will then be immediately due, with an agent visiting the tenant to recover the balance. If payment is not made, the enforcement officer will be permitted to remove goods to cover the balance.
Get the control you require
Protective Controlled Goods Agreements are particularly suited to tenants experiencing problems with cash flow or drops in trade. This arrangement delivers control to you until the payment is made in full. The arrangement also protects your tenant from other creditors, with a reduced rate of charges allowing their business to continue.
Why Choose Collect My Debt?
Landlords are contacting Collect My Debt for many reasons when they have rent arrears to recover. We have many years of experience to draw upon and operate on a national basis working for clients across England and Wales. Our Director has 24 years’ enforcement industry experience and has recovered hundreds of millions of pounds for a wide range of clients. No client is ever too big or small for us, and our Certified Enforcement Agents have 15 years’ experience on average. This is just one reason why we have such a formidable track record in getting the best results for our clients.
We are awaiting your instruction right now to provide the protection you require, so get in touch today to get the wheels in motion?
What Our Customers Are Saying
Don’t just take it from us, let our customers do the talking!
Thank you for efficiently and successfully carrying out my CRAR instruction. I had little knowledge of the new legislation that is in place so was unsure how the CRAR process worked. Collect My Debt explained step by step the process and how much involvement and information they needed from myself. Luckily once I gave the instruction Collect My Debt took care of the rest, which greatly put my mind at ease. Collect My Debt collected over 75% of my outstanding rent on the same day of attendance, the rest was collected on an arrangement over the next 2 weeks or so. I had been chasing this debt for over 6 months and neither I or another enforcement company was able to do anything about it, I was told the debt was ‘un-collectable’ and to ‘forfeit the lease’ that’s when I decided to try someone else. If you have old or new debts owed to you and you feel or are told that they are un-collectable give Collect My Debt a try, I couldn’t recommend them enough. C M Johnson
The service you provide is nothing short of fantastic! The success you have had for me over the last 6 months has been unbelievable, collecting some rent debt I thought was lost. I thought collecting under the new legislation (CRAR) was going to be a waste of time. How wrong was I! Give Collect My Debt a go, I wouldn’t look anywhere else any more for any of my enforcement issues, they don’t just do the job, they excel. Frank Samuels
It is a pleasure for me to be able to recommend your services.
The enforcements under CRAR you have carried out for us have been extremely effective, your high success rates have amazed me and my fellow directors along with your solutions to any further issues we have along the way, your advice and knowledge is second to none. James Bailey-Matthews