Insolvency Practitioner Scenario 2

You have a potential job, but you are not on the Bank’s or Funder’s panel

So a potential Job has come your way, but you are not sure if the Bank or Funder will let you hang onto it when they find out that you are not on their panel, or have no relationship with them.

You need to demonstrate to the Funder that you have their best interests at heart, and that you have comprehensively reviewed the Debtor Book, and can provide them with comfort about the recoverability of the Ledger, and whether they will recover their Funds Out in full.

We act fast and get on site to find out the best solution, when we carry out our Debtor Collateral Review.

 

Debtor Collateral Review

Following an initial conversation, we always suggest that the first step is to get us out to site to carry out a comprehensive Debtor Collateral Review. We do this initial review at NO CHARGE to you, regardless of the outcome. It includes:

On-site visit usually within 24 hours but guaranteed within 48 hours to review the following:

  • Copy invoices

  • Order to Cash process

  • Details of any issues and queries

  • Backing paperwork

  • Aged Debt reports

  • Customer Master File

Whilst on-site, we tidy up the Ledger and immediately produce a report which indicates the true collectability of the Ledger and whether the Funder is likely to recover their Capital in case a Collect Out is needed.

This can only be accurately assessed once the Order to Cash process has been fully understood, which is why it takes experts to do this.

We also review Aged Creditors, Contras and other issues that may impact collectability and leave no stone unturned in reaching a realistic figure for Collections.

THERE IS NO CHARGE FOR THIS INITIAL REVIEW, REGARDLESS OF WHETHER YOU GET THE JOB OR NOT.

advice and support

This service will provide you with an accurate Report that you can send to the Funder to provide them the comfort they need.

All we ask is that if you are then appointed, that we get involved in the Collections. There is never any charge for the Debtor Collateral Review, whether you get the job or not.

Credebt have successfully assisted many Insolvency Firms in this situation and our Reports are in the format that they would expect to see.

All you need to do in this circumstance is to instruct us to carry out a Free Debtor Collateral Review and we will do the rest.

We advise on the collectability of the Ledger and whether pre-appointment Credit Control would maximise the Funder’s position and more importantly, ensure you retain the job!

How can we help?

 

Credebt provide a full range of expert Receivables Management Solutions to the Insolvency Profession, the Invoice Finance Industry, advisers and their clients, from full sales ledger recovery to outsourced credit control.

For more information about how we can help call 08456-6385256
or email our MD, Glen Morgan at glen@credebt.co.uk

Credebt have assisted me on many occasions with debt collection on insolvency cases. Glen and his team proactively work through ledgers, providing regular reports and payments to us.

Where disputes arise or settlements are proposed, they quickly inform us and make sensible recommendations rather than just presenting the problem.”

Neil Vinnicombe - Begbies Traynor

Get In Touch

We work with businesses of all sizes from all over the country. We’re happy to visit or work via phone and email so get in touch today and we look forward to helping you soon.

our offices

Bristol Office

Credebt Ltd

Trym Lodge
1 Henbury Road
Westbury-On-Trym
Bristol
BS9 3HQ

Manchester Office

Credebt Ltd

2nd floor
3 Hardman Square
Manchester
M3 3EB

London Office

Credebt Ltd

Hamilton House
Mabledon Place
London
WC1H 9BD

 

Credebt Limited: Registered in England Number: 6933734 Registered Office: Trym Lodge, 1 Henbury Road, Westbury on Trym, Bristol BS9 3HQ
Data Protection License Number: Z1837677 | Credit Services Association Membership number: 804

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