Insolvency Practitioners and debt collection. Resource and experience are available to undertake a range of investigations.
Sterling work with Insolvency Practitioners to value sales ledgers and to cost effectively collect book debts quickly and efficiently.
Sterling Debt Recovery provides a proven service to Insolvency Practitioners working with Receivership – Liquidation – Administration – Company Voluntary Arrangement or Individuals made bankrupt or subject to an Individual Voluntary Arrangement. We deal with the collection of book debts owed to companies in any status.
We may work as an agent on behalf of the official receiver to collect book debts due to companies or partnerships against which a winding-up order has been made or due to individuals (including members of a partnership) subject to a bankruptcy order and also to collect monies due under income payments agreements or income payments orders (IPAs/IPOs)
Sterling Debt Recovery have developed a professional system to deal with the specialised subject of book debt recovery offering a tailored, well planned, individual approach to handle each account. Disputed cases always demand experienced collectors to identify problems and reach the best possible settlement through skilled negotiation.
In the cases of reassigned debts from Factoring or Invoice Discounting companies, all documentation will be transferred to the Insolvency Accountant ensuring the possibility to pursue the reassigned debts. Cases missing paperwork will still be followed up and strong attempts to locate and contact all debtors will be made. We work closely with the Insolvency Practitioner’s case handlers, agreeing the most suitable reporting format prior to service, and process for regular payment of recovered funds.
Should it be necessary to commence legal proceedings, Sterling’s solicitors are well versed in this area of litigation and, being based in the same office as our collection team, are able to support and act swiftly using the most appropriate method for a speedy and cost effective result. Sterling are able to work on either a commission arrangement, hourly rate or fixed fee basis depending on the requirement. Our unique structure means that we are able to charge rates lower than the UK average, whilst delivering a higher level of service and collection rate.