The continuing rise of insolvency procedures has seen the volume of insolvency notices sent to creditors increase. But these are often disregarded as recovery rates continue to remain low, which has resulted in millions of pounds remaining unclaimed.
Our Client Services team provides a free service to our clients which removes the administrative burden by outsourcing the management of bad debts and improving recovery rates without any extra cost. If you need assistance in this area, our team can:
- Identify the status of the individual or corporate debtor
- Identify whether an Insolvency Practitioner (IP) has been appointed
- Review Voluntary Arrangement proposals to improve your dividend prospects
- File proxies and proofs of debt on your behalf
- Notify you of any potential dividends
- Collect any dividends on your behalf
The sooner you advise us about the pending insolvency, the more options we have to maximise the return for you.
As so often in business, negotiation is often a better course than legal action. With this in mind, before any formal insolvency takes place, we can approach the debtor, establish their financial position and propose a course of action that will ensure the best result for you. These options could include:
- Individual Voluntary Arrangement
- Partnership Liquidation
- Partnership Voluntary Agreement
- Trust Deed (Scotland only)
- Informal Agreement
- Creditors Voluntary Liquidation
- Compulsory Liquidation
- Members Voluntary Liquidation
- We are a top 20 UK Accountancy practice
- We offer a personal service, tailored to your needs
- We can provide as little or as much input as you require
- Every client receives a dedicated point of contact who manages the relationship seamlessly
- All the information we hold is regularly updated, giving you total transparency on your insolvent debts
Kingston Smith are also a member of Morison KSi, a global association of leading professional services firms with over 150 member firms.
We are delighted to offer this beneficial service to our clients at no charge.
To find out more about Client Services or request a call back, please contact us.