Debtor book realisation

Many large companies have a bad debtor ledger comprising of various small and difficult debts for which they probably think it is no longer cost effective to chase.

However, your bad debt ledgers might contain millions of pounds. They may have been written off in accountancy terms, but that does not mean that you should not try to recover money on them.

Alternatively, you may be carrying out a realisations project as part of a restructure, insolvency or factoring arrangement. Whatever the reason, realising the value of a debtor book has the potential to unlock a balance sheet asset and turn it into cash.

At Flint Bishop Solicitors, we have carried out projects for insolvency practitioners, restructuring experts and trading companies to recover debtor books that have long since been written off as bad debts. This includes projects where there is little or no backing documentation.

This often takes place on a shared risk basis whereby we simply take a cut of any recoveries made, meaning that we can work for our clients on their debtor books at no extra cost. This enables them to collect previously written off debts without worrying about the cost-effectiveness of doing so.

Our approach to collecting debts from old ledgers has already made one multi-national company over £2.5m in the space of just 18 months. Before our involvement, the company had written off these debts as uncollectable.

In addition, our innovative approach to collecting debts as part of a restructure of a huge PLC group of companies has seen recoveries of over £7.5m, despite an initial target of just £50k.

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