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Debt Collection for Insolvency Companies

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Debt Collection for Insolvency Companies

Debt Collection For Insolvency Companies

In the last quarter of 2020, around 630,000 businesses in the UK were experiencing impactful financial distress.

This is no surprise, as many businesses have had to face the difficulties of the economic climate over recent months. It will now mean that a lot of companies will be on the verge of, or are already, facing Insolvency.

A company will enter insolvency when it cannot pay its debts or monthly out-goings on time, or in full. In many ways, this can be perceived as Bankruptcy.

It may come as no surprise that when a company goes Insolvent, they may be unable to pay an Insolvency Practitioner.

This is due to the financial position they are in, with debts and outgoings outweighing their assets in its bank account.

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Based on the latest figures, Corporate and Business Insolvencies fell by 27.1% in 2020 in England and Wales. This is a positive discovery, but there are still a large number of companies that will be affected by this. This will also affect the Practitioners that are owed debts.

Insolvency Practitioners are used to help and close-down a company that has entered liquidation. They are commonly paid from the assets within the case.

However, there are times when the number of assets is too little to pay for the services.

It’s common practice for a third-party to be asked to produce the funds to cover the costs of the Insolvency Practitioner. This will be taken into consideration if the debtor cannot pay.

What if the third-party organisation cannot pay for the services provided? There are many things you can do to ensure you are paid.

You may feel like issuing a statutory demand, which is a formal request that a debt must be paid. You may also want to claim against an insolvent company’s insurers.

It is perfectly valid to think of these actions but they can be extremely costly to your time, resources and money. It is important to remember to make the recovery process of any debts as simple, efficient and effective as possible. This will allow you to focus on more value-based tasks such as growing your business.

When you are owed money, it is now time to instruct a Private Debt Collection Agency such as Frontline Collections. This will naturally be the only correct and affordable solution to ensuring you are paid.

We have a demonstrated history of providing the UK’s No1 solution for Insolvency Companies, collecting book debts quickly and efficiently.

Annually, we successfully recover millions of pounds on behalf of our clients.

At Frontline Collections, we pride ourselves in our professional handling of the collection of book debts owed to companies in any status. We strive to maximise the potential of a lump sum payment of your debt.

Since 2005, we have provided a proven service to Insolvency Practitioners working with Receivership, Company Voluntary Arrangement or Individuals made bankrupt. As well as this, we have also worked on behalf of income payments agreements or income payments orders (IPAs/IPOs).

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Debt Collection Agency for Insolvency Companies – Why Use Frontline Collections

Frontline Collections have developed a professional system to deal with the specialised subject of book debt recovery. This is due to a wealth of experience we have gained in all aspects of the Debt Recovery Industry, and through a large number of sectors.

As part of our trusted Private Debt Recovery service, we offer a tailored, well planned and individual approach. We ensure to handle each account effectively and reach the best possible settlement through skilled negotiation.

We always strive to be the UK’s No1 first choice for all Private Debt related needs and requirements. This can be done by ensuring the maximising of a successful collection and the minimising of costs.

We work very closely with the Insolvency Practitioner’s case handlers to agree with the most suitable reporting format. We also discuss the process for regular payment of recovered funds.

In cases whereby there is missing paperwork, strong attempts will be made to situate and contact all debtors.

To examine all of the debts we take on carefully, all documentation will be transferred to the Insolvency Accountant. This will ensure the possibility of recovering the reassigned debts.

We have demonstrated experience working within the Financial Industry and on behalf of Insolvency Practitioners. We provide the most diligent, progressive and quality service for our clients.

There are multiple reasons why we are rated the UK’s No1 for all Private Debt Collection needs, including:

  • Average 90% Recovery Rate On Undisputed Debts
  • Industry-low Commission Rates
  • Local, National and International Coverage
  • Online Account Management and Progress Reports
  • Localised Debt Recovery Officers to Visit Debtors
  • Affordable, Professional and Pro-active
  • Award-winning Debt Collection Agency
  • No Collection – No Collection Cost To Pay!
  • Gold Preferred Supplier with The Independent Schools Association

If you work for an Insolvency Company, it is vital you take the necessary steps to ensure you are paid.

It’s imperative that you choose the right collection agency when recovering monies owed. Choosing the wrong company is sometimes worse than choosing no company at all.

Please call our New Business team today for free advice and information. We can help you realise the full value of what is owed to you.

Our team can be contacted on 0333 043 4425 or enquiries@frontline-collections.com

Debt Collection For Insolvency Companies | Get Expert Help From A Professional Private Debt Collection Agency Now

Our friendly team of Debt Collection Experts is happy to help you today

SPEAK TO A DEBT COLLECTION EXPERT