Many businesses at some stage experience difficulties in obtaining payment from their customers. Usually this can be resolved, sometimes following court action but often following a comprehensive debt collection process.

Sometimes, however, this does not have the desired result and you may be faced with a decision as to whether to force the issue through a winding up petition or consider other alternatives.

At Totality we believe that in the majority of circumstances pursuing a compulsory winding up order of a customer to completion is unlikely to provide the best recovery of the amount owed. Often the customer may be willing for a third party to assess the situation and determine the best outcome to all parties concerned. Such a review may result in the liquidation of the customer but more likely there will be a better alternative.

We can also assist where a customer has become formally insolvent through providing support through the process from how to deal with Reservation of Title claims, the process at meetings of creditors, representation on liquidation or creditors committees and assistance in proving the debt in the insolvency. In addition if you are unhappy with the performance of the Insolvency Practitioner or have concerns over their independence or involvement with management, in certain circumstances we may be able to replace the proposed or actual insolvency practitioner concerned.

Fees

Where we are asked to act as insolvency practitioners then normally the costs of this are met out of the company's assets. Depending on the circumstances it may be necessary to obtain a guarantee or deposit for the fees where there is uncertainty as to the level of assets within the company.

For other services fees are transparent and agreed in advance.

We will not charge for our initial consultation - contact us us via our webform or on 0870 495 7854 for a free confidential conversation and to discuss how we can help.