Steve McDonnell

Operations Manager - Debt Recovery - Associate (Non-Lawyer)
Office:
  • Banbury
Phone:
01295 204130
Specialisms:
  • Debt Recovery
  • Steve worked for leading firms of solicitors in Cardiff, Birmingham, Worcester and Banbury running debt recovery operations
  • He also worked as a credit manager and director for recruitment companies and financial institutions
  • Steve became an Associate in December 2013

Work highlights:

  • Steve’s areas of expertise include debt recovery/ credit control and internal/ external training
  • His key achievements include completely overhauling the credit control functions at a PLC reducing debtor days from 90 to 22 and the 90 day ledger from 35% to under 2%

Professional memberships, publications and interests:

  • “I don’t have any free time,” Steve says, “I have a daughter!”

 

Case Studies

  • Collection of Old debts
    Acting for a television advertising company collecting outstanding debts whilst they were winding down the business which resulted in collections of 87% of the ledger passed across.

    We were approached by the temporary credit manager of the business who we had previously carried out work for to assist him in pre and post legal collections for them. It was clear from the beginning that the debts were in some instances a couple of years old and had not been chased for a long time if at all. Also in addition to company’s in England & Wales there were debts in Scotland, Northern Ireland and Eire.

    The debts ranged from a few hundred pounds to in excess of £35,000. After sending out the initial letters I made telephone calls to all of the debtors who had no intention of paying as they knew that the client was winding down the business and believed they could get away without paying. They made every excuse not to pay including spurious disputes which I was able to counter and continual requests for paperwork which I had in my possession.

    Due to my perseverance on the telephone I only had to issue proceedings on 6% of the matters and recovered in each instance. 
     
  • In-house Training for Client
    We had been acting for a nationwide company for a number of years doing ad-hoc training on various credit management and legal topics. Following a change of management we were ask to carry out regular on going training for existing staff and also were incorporated into their induction program for new starters in their collection departments.

    I was requested to attend offices all over the country including Belfast to carry out training. For new starters I wrote a particular training program to cover the basic principles of credit management, telephone collection techniques, identifying legal entities and the legal process. This proved to be a very important part of their induction as the vast majority of new recruits had no previous knowledge of collections.

    With the existing staff more in-house training programmes were written on topics such as legal entities, erosion of profit margins, legal process and insolvency. These have proved to be very successful and have been expanded to other parts of the business including sales personnel and I have been invited on a number of occasions to speak at national conferences on these subjects.

    Over the years when I have been carrying out this training the staff who have left and gone to other business have then requested I carry out similar training programs for the staff at their new employers.
     
  • Recovering Foreign Debts
    A client who we had been acting for had recently acquired a company who did substantial work abroad and approached us to assist them in recovering foreign debts

    The client’s credit control operation had no previous experience in collecting from foreign companies and their initial thoughts were to write debts off rather than incur costs in pursuing the debts.

    We were able to assist them in training of their own staff in what to look for when dealing with foreign companies. Additionally we were able to collect substantial sums of monies for them through our foreign section and then by our extensive portfolio of agents throughout the world.
     

 

Testimonials

  • "I have worked with Steve for the past four years and have found that his knowledge within the industry and professionalism is second to none. The advice offered is always based on current information obtained with regard to cost versus financial gain. Steve has provided "Guide to Debt Recovery" training recently which was both informative and engaging. My team found it very useful to know what happens to the debt once it leaves their ledgers. It is a great pleasure to work with Steve."

    Ian Johnson
    (Credit Supervisor), F&P Wholesale
  • "I have worked with Steve McDonnell and Spratt Endicott in excess of ten years and have always found him to be extremely knowledgeable, professional and helpful in his approach to Debt Recovery and any problems we may have. Steve is also a great communicator and listener and has immense enthusiasm for any job thrown at him. As a company, we have achieved many excellent results thanks to Steve's persistence for the job. Steve will always advise us of the best route to take to achieve the best commercial outcome for the company and it has always been a pleasure working with him."

    Liz Randle
    (Legal Administrator), The BSS Group PLC

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