Redwood Collections has extensive experience of both corporate and individual insolvency actions. With cost effective techniques developed over many years, insolvency action is our preferred strategy in the majority of cases. Our expertise in this legal field means we can instigate insolvency proceedings immediately once we have concluded that our pre legal efforts have been exhausted.
Unlike most debt collection agencies we have a panel of highly regarded solicitors and insolvency practitioners retained by us. We offer a professional and effective solution to your enforcement needs that dovetails seamlessly with our core debt recovery services. Our experience has shown that prospective bankruptcy or liquidation is the most effective legal action to ensure debtors that can pay do pay.
By driving each debt case from the first telephone call to full insolvency proceedings, Redwood Collections enjoys an excellent success rate across its diverse portfolio of clients.
Benefits of insolvency
- Redwood’s most frequently used and most recommended legal action
- Statistically far more effective than a court claim
- Costs are largely recoverable from the debtor’s assets
- Not open to instalment offers from the debtor
- Can be used to enforce an existing CCJ
- Even in the event of few assets the judge may make a monthly payment order
Recent case study
Redwood undertook a bankruptcy petition on behalf of an independent school against a former parent who owed over £17,000 in unpaid school fees.
The debtor offered to repay the debt via instalments that would satisfy the debt in 14 years. Given that Redwood had previously identified the debtor to be the owner of several properties, the school did not deem the offer acceptable. A statutory demand and subsequent bankruptcy petition were prepared and served upon the debtor.
The outcome of the case was that the debtor agreed to sell a property and pay the debt to avoid being made bankrupt at an impending hearing. The settlement included the debtor paying our client’s costs, which included our commission charge, all legal fees and interest chargeable under the school’s terms and conditions.Call us now on 0208 288 3555, email us here or use our contact page to get in touch