- Tailored services to maximise the collection rate of each ledger.
- Flexible service (e.g. to include payment allocations).
- Systems to reduce administration for the IP (e.g. remote access to sales ledger, use of shared folders or drop boxes).
- Legal advice and advanced query resolution.
- Litigation though our own solicitor*.
- Contingency, fixed cost or hourly rate agreements.
- Payments direct to the IP’s bank account if required.
Sterling Debt Recovery provides a tailored service to Insolvency Practitioners whereby we manage the collection of book debts owed to companies who have been placed into liquidation, administration, receivership, company voluntary arrangement, bankruptcy or IVA. One of the keys to success in collection is a thorough understanding of the creditor’s business. Sterling will carry out an in depth review with the IP prior to commencing collection action so that we are best prepared to resolve disputes and argue the case for payment. Our service manages the complete process including query resolution and settlement negotiation where necessary . We are able to manage reassigned debts from factoring or invoice discounting companies, and cases where little supporting documentation is available. 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 solicitor* is well versed in this area of litigation and, being based in the same office as our collection team, is able to 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.
*Sterling Debt Recovery uses an independent 3rd party solicitor. You can see more information here legal services.