Beware of factoring - Things they don't tell you at Bibbys

[AnnaPop]

Another point I'd like to add is Invoice Finance is a form of finance with credit control if you want it (factoring), you can get confidential factoring so your client doesn't know your factoring. Invoice Discounting where you invoices are financed but your retain control of you credit control.

Cost is also not the only thing to take into account you need an arrangement that suits your individual needs.

 

[Ian J]

This website, you can get a guideline quote and then they will contact the factoring companies on your behalf find the best quotes for you www.factoringquoteuk.com (the factors know they are competing with other companies and so will do their best to give a well priced quote).

Whilst I obviously agree that using the services of a capable factoring broker should be beneficial I am not too keen on the type of companies that you have linked to as they really aren't much more than lead generators and as they don't know the market you won't end up with the most appropriate factoring company.

Interestingly enough I've never heard of the company that you linked to so looked them up in Whois to find that the website was only registered in October 2009. They are also in Chorleywood like yourself - co-incidence?

Cost is also not the only thing to take into account you need an arrangement that suits your individual needs.

Another good reason why it isn't advisable to use these lead generators

 

[Ian J]

Anna - the website of the factoring broker that you are recommending is owned by [address removed by moderator]

The webite that according to another post you have just launched (gtbj-recruitment.co.uk) is owned by [address removed by moderator]

A bit deceiptful don't you think ?

 

[AnnaPop]

This is my husbands website, who is not a member of this forum and whilst I'm promoting his companies services (which is why you're on here I'm sure), the service they do offer is entirely independant.

Of course it generates leads, without leads they would no online brokerage would get any business.

They are not in bed with Lloyds owned by Bibby or any other factoring company, all commission paid (which is how all brokerages work) is the same rate with every factoring company they do business with and so there is no incentive to recommend one company over another. My husband has worked for one of the main Invoice Finance companies and so has good knowledge of the industry. I suspect you main objection is he this in competion to the service you provide. Competition is healthy.

I'm aware of you service and your websites and will quite happily and graciously admit like my husband and unlike some other online brokerages you are also completely independant.

Anyway I don't think it is becoming to bicker so this is the last I will say on the matter.

 

[Ian J]

I suspect you main objection is he this in competion to the service you provide. Competition is healthy.

Not at all. My only objection was that you gave the impression that your recommendation was unbiased as you "forgot" to mention that the site you were promoting was family owned.

I'm aware of you service and your websites and will quite happily and graciously admit like my husband and unlike some other online brokerages you are also completely independant.

Please don't confuse me with an "online broker" as I am not. I am a real bricks and mortar broker who talks to people and discusses their individual requirements. Although I have a website you won't find any forms to fill in on it as I don't believe that you can offer a proper service without direct contact

 

[Geoff T]

I am a real bricks and mortar broker who talks to people and discusses their individual requirements.

I liked that definition