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Has one of your clients suffered a bad debt

Has one of your clients suffered a bad debt that isn’t commercially viable to pursue?

Wilson Field may be able to help. If the debtor is facing bankruptcy as an individual, or compulsory liquidation as a corporate entity, we can seek to obtain the appointment as Trustee or Liquidator out of the Official Receiver’s Offices. This applies to appointments made by the Secretary of State or at a Creditors’ Meeting.

What are the benefits?

Your clients know that the circumstances will be investigated thoroughly. There is no cost involved, as any cases we take on we do so at our own cost / risk. Although we cannot guarantee a return to the client we will pursue assets* owned by the debtor or company which may be disguised or have previously been illegally transferred to another body.

How does that benefit me?

Firstly, you are strengthening your relationship with your client by offering an additional option (at no cost to you). Reciprocation – in some cases our investigations lead to additional legal work which we would seek to pass back to you. Hopefully this would lead to our firms working together further in the future.

What is involved to start things moving?

Your client will have received notification from the Official Receiver together with a Proof of Debt form. Wilson Field simply needs your client to complete the Proof of Debt form and additionally a Nomination form which we will provide. This enables us act on behalf of your client by proxy.

So how does it work?

The amount of the debt is immaterial. To take the appointment from the Official Receiver’s Office we need the Report to Creditors and list of other creditors from the Official Receiver. Once armed with that information Wilson Field will canvass other creditors for support. Your client (one of the unsecured creditors) will not be inconvenienced or involved.

Does Wilson Field accept all cases?*

Yes – however there is a structure of fees set out by the Secretary of State and for a case to be cost effective we are looking for the existence of assets with a value of at least £20,000. Wilson Field will also review the viability of seeking an appointment if there are significant speculative assets.

Are you interested in finding out more?

Get in touch today on 0114 2356780 for some more information, or simply tell us where and when to meet you and we can discuss exactly how we can help over a coffee.

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