Creditor Services
Thousands of companies and individuals become insolvent each year. As a result thousands of insolvency notices are sent to creditors which are generally ignored due to a general perception of poor recovery rates. Our creditor service takes away the hassle of clients completing and dealing with the insolvency documentation received. As part of the service, we also assist clients in recovering their debt from the insolvent individual or company.
How Does Our creditor Service Work?
When a client receives an insolvency notice or documentation it is sent to us by post or email. Our team will then:
- Establish the status of the company or individual debtor
- Establish whether a licensed Insolvency Practitioner has formally been appointed
- Review and consider voluntary arrangement proposals to improve dividend prospects
- File proxy forms and proofs of debt on your behalf
- Notify you of any potential dividend
- Ensure that any dividend is paid to you
Negotiating with a debtor can provide a better outcome for a client rather than issuing proceedings against them. Prior to issuing proceedings against a debtor, we can approach them on your behalf to establish their financial circumstances and propose a course of action that will ensure the best result for you. These options include:
- Creditors Voluntary Liquidation
- Members Voluntary Liquidation
- Compulsory Liquidation
- Company Voluntary Arrangement
- Partnership Liquidation
- Partnership Voluntary Arrangement
- Individual Voluntary Arrangement
- Bankruptcy
- Informal Agreement
What Are The Benefits
- Outsourcing allows clients to concentrate on their core business
- We will endeavour to enhance any recovery for the client
- Removes the burden of the client administering substantial insolvency documentation
- We can provide an early indication of whether any recovery can be made
Other Services
In addition, we can assist creditors with specific issues including:
- Retention of Title claims
- Attend creditors meetings on your behalf
- Sourcing funding to cover cash flow problems