If you offer goods or services on any credit terms, you are a creditor and could benefit from the Creditor Support Service from McAlister & Co. It’s always distressing when a customer goes out of business owing you money and the CSS can offer advice over the phone or email and practical help in the form of helping to complete paperwork and representation at creditors meetings. All of the services we offer creditors are designed to save them time and improve the return on their debt which they are owed.
Weekly insolvency report, report of creditors meetings, advice and a contact within the industry. Get in touch today and we’ll send you a pack.
Nothing. The services we offer as part of the Creditor Support Service are free of charge.
A foot in the door. We want to be voted in as liquidator or trustee in any insolvency procedures which may arise. For this to happen, we need creditors to vote us in
Of course, this will vary from case to case. If we are voted in as liquidator or trustee, we can work to a fixed quote which means our fees will be capped and usually lower. This means more money in the pot for distributions to creditors.
We would encourage creditors to fill in Proof of Debt forms in all cases and we can help with this.
A meeting of creditors is called to inform creditors of the situation of the debtor company. A Statement of Affairs is presented, which details the debtors financial situation, including assets and all creditors. The meeting is also a chance for the creditors to ask questions and to appoint a Liquidator by the process of a vote.
Why would I want McAlister & Co to attend on my behalf?
McAlister & Co can attend a meeting of creditors on your behalf to save you taking time out of your day to do so. As experienced insolvency experts, we will be able to ask questions and request information which could garner valuable information and increase prospects and amounts of distribution. Are the directors of the debtor company hiding assets? Do the figures add up? Should there be a personal liability?
After attending the meeting, we will then produce a report, which we will forward on to you. A sample of this report is available to download here, and is included in the pack, which is available here.
Yes. Sole trader business owners have to take on many roles, including that of finance manager, and your time is already spread thinly. Being part of the CSS can streamline the process of recouping money from an insolvent debtor.