LPL provides a unique system to the Insolvency Practitioner in which we comprehensively deal with the collection of book debts owed to companies who have been placed into Liquidation - Administration - Receivership - Company Voluntary Arrangement or any Individual who has been made bankrupt or is subject to an Individual Voluntary Arrangement.
For more than 20 years we have offered this service to many well known Insolvency Practitioners in the UK who have benefited from our successful recovery services.
Book Debt recovery is a specialised subject and requires a professional approach in the manner in which each individual account is handled. In some cases where the claim is disputed it requires experienced operatives to recognise the problems and negotiate an acceptable settlement.
In the cases of reassigned debts from Factoring or Invoice Discounting companies, we will ensure that all documentation are transferred to the Insolvency Accountant so that all supporting paperwork is available to pursue the reassigned debts. On occasions very little paperwork may become available, LPL will still endeavour to contact all debtors in an attempt to collect any remaining debts.
Regular reports are available to the Insolvency Practitioner's case handlers and realisations are paid into separate client accounts and all cleared funds are remitted to the client on a regular basis or in accordance with their particular instructions.
Meetings can be arranged with former directors or ex accounting staff whether the company continues to trade or whether it has been closed down; to sort out queries and disputes.
Should it be necessary to commence legal proceedings, LPL's solicitors are well versed in this area of litigation and will speedily arrange to issue through the County or High Court for the recovery of debt. Alternatively our Insolvency Client may choose to use their own solicitors for this purpose and LPL will then liaise with them and provide all pre sue reports.
Operating on a No Recovery - No Fee charging basis our collection fees are flexible depending on the complexity and age of the debts. We are always ready to negotiate according to the funds available in a particular job.