Bad debt is the bane of many good companies, and - in extreme circumstances – the downfall of others. What you need are the tools to go and claim the cash that is rightfully yours
Dains offers advice for those companies that are owed money, such as outstanding invoices for goods or services provided, which, for whatever reason, are not being paid by the debtor. We’ve got several ways of doing this.
Company & individual searches
Searches are carried out online. Basic information can be provided free of charge and more complex searches are charged according to the level of information required. Most searches are received within a period of 24 hours. Various information is required to ensure the correct company or individual is being searched.
Dains offer advice on the steps to be followed to commence recovery proceedings. Two levels of service are available: one is an explanation of the form needing completion and answering basic questions; whilst another is taking the full responsibility for pursuing the debt. If initial proceedings are unsuccessful, we can advise clients of the next steps and refer them to lawyers if appropriate. We can also instruct tracing agents to assist in locating individuals or company directors, for example.
Representation at a meeting of creditors
When creditors receive notice of a liquidation, Proof of Debt and Proxy Forms are received. They need to be completed to register a claim in the proceedings. We offer advice on the completion of these forms. If you have a debtor that is entering into a formal insolvency procedure, such as Administration, Liquidation and Voluntary Arrangement, it is important that you have professional representation at the meeting of creditors, where you will have the opportunity to ask questions regarding the company's or the individual's affairs. Representation at the meeting can have significant benefits, including:
- Improved dividend prospects
- A lead to the modification of proposals
- Assurance that all the relevant facts, which may not have been revealed, are brought to the attention of the meeting
We can even attend a meeting on your behalf, and draft a report of the outcome of the meeting of creditors within two days of it taking place. Alternatively, you may wish an experienced insolvency professional from Dains to accompany you to the meeting and advise you on the insolvency procedures.
Dains can help with:
- Attending meeting of creditors
- Reporting on the outcome of the meeting
- Advising on the insolvency procedure
We’re here to help you get what’s rightfully yours.
Dains Business Recovery Limited - Registered Company number 10115314. Registered office St. Johns Court, Wiltell Road, Lichfield, Staffordshire, WS14 9DS. Registered in England and Wales.
Dains Group Limited - Registered Company number 06327495. Registered office St. Johns Court, Wiltell Road, Lichfield, Staffordshire, WS14 9DS. Registered in England and Wales.
Martin FP Smith and Nicola J Meadows are licensed in the United Kingdom to act as Insolvency Practitioners by the Institute of Chartered Accountants in England and Wales
When acting as Receivers, Administrative Receivers or Administrators they act as agents only, without personal liability and when acting as Administrators, the affairs, business and property of the company are being managed by them.