Trade and Utility Creditors

Why do Trade and Utility Creditors need TMP?

TMP Creditor Services can provide specialist advice to creditors when a debtor becomes insolvent and can enhance the chances of recovery.

As experts in our field, we understand the impact on your business when a customer or client becomes insolvent.

This creates added pressure on your business.

  • Creating a loss of income.
  • A loss of a client.
  • Additional time required for your staff to complete paperwork, taking them away from their focus and core duties.
  • The stress of not knowing if a dividend will be recovered from the insolvency.

Why should you get in touch with TMP?

You may have already spent time and money instructing solicitors or debt collection agencies to issue statutory demands and winding up petitions. By having a close working relationship with TMP, it will allow us to act on your behalf at little or no cost.

The advantages are twofold.

Creditor Representation

  • We can remove the mundane and time consuming administration of form filling, posting, faxing and reporting.
  • We will submit all your Proof of Debt forms to the Official Receiver or Insolvency Practitioner dealing with matters.
  • We will liaise with the Official Receiver’s office regarding the position of the case and to what their findings are from interviewing the directors or individual.
  • We will attend meetings of creditors on your behalf.
  • We will modify proposals for a compromise of debt to achieve the best possible return.
  • We will provide reporting to suit your requirements.
  • Above all you can have confidence that we will proactively monitor dividend prospects and ensure that vital deadlines are met to generate the best possible return.

Formal Appointments

  • TMP ensures that time and money has not been wasted by you, in ensuring a company has been wound up.
  • As a Liquidator or Trustee our primary objective is to maximise creditors’ interests.
  • We investigate the affairs of the company and its directors or the insolvent individual.
  • We recover and realise funds due to the estate.
  • We distribute to the creditors.
  • We can accept compulsory liquidation or trustee appointments i.e. through the courts.
  • We can obtain the required majority to take voluntary appointments (even where an alternative insolvency practitioner has been nominated).

Why TMP?

  • We are a leading independent firm with an excellent track record.
  • We have considerable experience of all types of recovery procedures and techniques.
  • We are independent and have very limited conflicts of interest. This can be a very important when dealing with hostile banks. We provide a complete range of services – including access to turnaround finance to inject much need finance into a distressed business, that can often be used to prevent insolvency.
  • We have an extensive range of contacts in this niche sector which is often crucial to getting deals done - efficiently and effectively.

Please contact Richard Jackson on 020 7496 1013 or I look forward to hearing from you.