Insolvency

CCI Credit Management (CCICM) can provide Insolvency solutions to aid recoveries, where a client’s debt is undisputed but, despite collection efforts, the debtor has failed to pay. CCICM has developed a range of services – using formal and informal Insolvency processes – to maximise the recovery for a client from a debtor company showing signs of distress.

These services include:

Refinancing & Turnaround

CCICM partners with a business advisory service to explore re-financing and turnaround solutions. This works where a debtor company may be asset-rich, but experiencing cash-flow problems or requires short-term finance to cover a slow period of trade.

Winding Up & Bankruptcy Petitions

Funded UK Winding Up and Bankruptcy Petitions apply where the costs can be recovered from either the debtor company/individual to prevent petition proceedings; or from the insolvent debtor company’s/individual’s assets, after the making of Winding Up or Bankruptcy Orders.
This process can be used with a view to recovering assets from both UK and international companies that have significant assets in, or are connected with, the UK.

Petitions Process – Advantages & Disadvantages

As with all legal proceedings however, there are advantages and disadvantages to the petitions process, depending on different factors and circumstances.

Advantages:

• Cannot put in a defence purely to delay payment.
• Is more likely to incur higher lawyer costs, encouraging early settlement.
• Has their bank account frozen once the Winding Up Petition is advertised, so forcing negotiation.
• Normally pays well within the 8-10 weeks it takes to serve a petition; whereas a defended claim form can take 6-18 months to get a judgement.

Control of Insolvency proceedings

• In the event the debtor itself attempts to place the company into administration to avoid compulsory liquidation, the Winding Up Petition means that an actual hearing of the application for the administration would have to take place. This means that rather than with a simple form-filling exercise, you as the creditor would be able to influence the insolvency process at that hearing.
• A company can only have one petition against it at a time, so if we present one first, other creditors cannot.

Costs shared rateably between all creditors

• Winding Up and Bankruptcy Petition costs are paid as a first charge on the insolvent estate and spread rateably between creditors. However, with a claim form, creditors pays all the costs themselves which would not be recoverable and form part of their unsecured claim on any subsequent insolvency of the debtor.

Disadvantages:

• CCICM can only use this process where the debtor has no arguable dispute to at least £750 of the debt for Winding Up Petitions, or £5,000 for Bankruptcy Petitions. The petitions process can become expensive however, as can Litigation, so it is best to recognise problems early and withdraw the petition, if a dispute comes to light or you reach an agreement with the debtor.
• This aggressive form of collection may adversely affect the future relationship with the debtor.

Insolvency Practitioners (IPs)

CCICM partners very effectively with UK and international Insolvency Practitioners (IPs) to quickly identify formal Insolvency procedures – such as liquidations, administrations, and company voluntary arrangements – that aid recoveries from a distressed business.

We work with the IP to:

• Identify additional creditors of a distressed debtor company to facilitate the instigation of such procedures where required.
• Ensure the Insolvency procedure is begun as quickly as possible; and
• Maximise recoveries for our clients.

Review Asset/Debt Ledger

CCICM will work with the IP once appointed and any secured lenders of the debtor company, reviewing the business records to identify what is collectable from the asset ledger/book debts or debt ledger and realising those collectable debts as quickly as possible.

CCI Receivables Recovery (CCIRR)

CCICM has launched a new, in-house, specialist service in 2019 called CCI Receivables Recovery (CCIRR). Led by a hugely-experienced and highly-regarded consultant, CCIRR offers Account Review, Collect-Out, and Credit Management Advisory support.

Debt Purchase

Where it is apparent that the residual asset/debt ledger will be more challenging to recover and/or may take a prolonged period of time, CCICM can provide a debt purchase service for an IP/lender to swiftly curtail protracted realisations.

Identify/Contact IP

When CCICM is instructed on a debt and further investigations reveal that the debtor company has already entered a formal Insolvency process, CCICM identifies the appointed IP and makes immediate contact. This ensures your debt is acknowledged and registered in the list of creditors.
This service is vital to ensure you maintain your creditor rights in any Insolvency, can have a say in the process, and so maximise recoveries through potential dividend payments.

High-Value International Accounts

CCICM partners with international accountancy firms to explore both cross-border informal and formal Insolvency procedures for the recovery of high-value international debts. We also use other holistic solutions and negotiations between stakeholders – such as Alternative Dispute Resolution, including Mediation – where appropriate, to provide a ‘one-stop’ for recovering your international high-value debt. This is useful where you prefer a less-contentious approach, and/or traditional cross-border litigation is too risky or likely to fail.

CCI Receivables Recovery (CCIRR)

CCI Credit Management (CCICM) has partnered with a hugely-experienced and highly-regarded consultant to create a new in-house service in 2019 called CCI Receivables Recovery (CCIRR). Since leaving ‘big four’ accountancy firm KPMG, it was an open secret that Witold Chojnowski wished to remain active in the receivables recoveries arena. Witold has known CCICM as both a supplier and client for over 10 years, and since June 2018 had partnered us on a number of debt collection assignments. This has now led to the formation of CCIRR to combine our unique strengths and excellent reputations.

Services CCIRR provide include:

• Reviews of Accounts Receivables – including investigations, account monitoring, and recovery strategies.
• Collect Outs – recovering your money – on assignments of any size.
• Credit Management advisory; and
• Accounts Receivable outsourcing.

Please contact Witold Chojnowski on:

T: +44 07979 518112

E: Email Us Today

W: www.ccicm.com

Do you have unpaid goods either delivered to a client or stuck at port?

We can help mitigate your losses and realise as much as that residual value as possible.

Re-Marketing Assets

Frequently when a client’s goods remain unpaid, they have been delivered either to the customer or are stuck at port with unpaid demurrage fees. However, those goods may still have significant value, and it is CCI Credit Management’s (CCICM) job to mitigate your losses and realise as much of that residual value as possible.

Alternative Buyers

Of course, CCICM can arrange for the return of your goods; but we can also identify alternative buyers who will quote for the goods and settle all outstanding fees as part of the transaction.

Many exporting companies from all over the world use this service to very effectively mitigate their losses.

• Fully Managed Re-Monetisation Service
• Global Network of Buyers
• Return-of-Goods-Service
• Mitigate Losses
• Immediate Global Response
• Industry Leading
• No Success/No Fee

Call our experts today.

UK & International Tracing

CCI Credit Management (CCICM) offers its own UK and international tracing services, both in-house and via our trusted overseas network.

Over 35 years CCICM has developed the breadth of knowledge and expertise needed to trace your debtors and establish positive contact wherever in the world they may be located. Ensuring that we only ever offer value for money, our expert team will only recommend a trace where there is a good chance of success.

Legal & Ethical Boundaries

Naturally CCICM only operates in the most compliant and ethical manner. We understand that reputation is everything and we never compromise on quality. We have all the 21s​ t​-century resources – legal and ethical policies and practices, and the latest technology – within our head office to secure the highest-quality results. Tracing rules vary from one country/state to another, so CCICM abides by relevant national codes where they may differ from our own.

Turnaround Times & Charges

CCICM’s systems are flexible and so capable of extremely fast turnaround times. Our trace and collect charges are fixed depending on the type of client, though negotiable discounts are available for volume and value. Where necessary – for example in some harder-to-operate overseas countries or depending upon contingencies such as a vague address – we can co-ordinate the services of a local, external, tracing agent at a reasonable cost.

Credit Reports

CCICM offers a wide variety of credit reporting and financial investigation services to clients either as part of the collection process or as a stand-alone service. With over 30 years’ experience in this sector we have the systems in place to undertake the majority of requests ourselves as well as a vast network of reliable and trusted contacts we can call upon if anything out of the ordinary is requested.

Consumer Credit Reports

CCICM is licensed to provide consumer credit reports in relation to debt collection cases placed with us. Credit reports are undertaken usually at the end of the collection process and used to provide insight into a consumer’s residence and credit status as well as show adverse credit information such as County Court Judgments and Bankruptcy. There is a small fee for this service.

Commercial Credit Reports

For debts placed with us we provide free company reports to our clients. These can be supplied both during and at the end of the collection process to help us decide whether legal action is a viable option. We can also supply Credit Reports to our clients for any cases not placed with us – there may be a small charge for this service.

Land Registry Searches

Land Registry searches are commonly requested by our clients in order to assess the viability of legal action. Normally they are requested as part of a pre-sue assessment but can also be provided at any time and not necessarily in relation to a collection case. There is normally a small fee for this service.

Employment Searches

Another invaluable pre-sue report to help us decide on the likelihood of legal action being successful. Employment searches are usually requested by our clients once the pre-legal collection process has been exhausted. However we can provide this report at any time during the collection should you wish to fast track a case to litigation. There is normally a small fee for this service.

International Credit Reports

With partner offices in over 90 countries and relationships with other information providers we are able to supply a wide range of international commercial and consumer reports. Availability and price varies depending on the country. Typically these reports are requested at the end of the collection process in order to reduce costs. However they can normally be supplied as a stand-alone service.

Special Investigations

For higher value debts we have the contacts and resources to make in depth investigations in most of the countries where we have a partner office and even in some where we do not. These reports start at around £150.00.  Costs vary depending on location, the required outcome, information required and turnaround time.

Site Visits

Although the majority of our collections are undertaken by conventional methods, it sometimes becomes necessary to perform site visits in order to interview the customer, serve documents, confirm residency prior to legal proceedings, value property etc. We normally provide this service as an option to our clients if we have failed to obtain a response from the customer using all alternative methods of contact.

Where this service is requested you can rest assured that our approved panel of field agents meet the highest compliance standards. They hold FCA Interim permission and are all thoroughly trained in the principles of TCF.

Neighbourhood Enquiries

In the event the agent is unable to meet with the customer they will make discreet enquiries to try to ascertain if the customer is still resident or employed and to gather any additional information that may assist in the recovery of the debt.

Full Report

All agents provide us with a full report on every case. The length of time the final report takes depends on the number of visits and the location of the customer.

Full UK Coverage

For UK site visits we provide a full service in England, Wales, Scotland and Northern Ireland. Republic of Ireland is also possible but the price depends on the location.

International Coverage

Site visits are available in many countries, however availability and prices vary depending on the country and location of the customer. We usually quote for this on a case by case basis.

Photographic Evidence

Our agents will always endeavour to provide photographs of the property. This provides invaluable insight into the type, value and condition of the property.

Repeated Visits

If our agents are unable to meet with the customer on the first visit they will return up to a total of three times, visiting in the evening and at weekends.

Interview

If requested, our agents will interview the customer to try to ascertain if there is any valid reason why payment cannot be made and encourage the customer to engage with us in order to settle the debt.

Process Serving

Field agents can deliver legal or any other documentation to the customer.

Legal & Fiduciary Services

UK & Overseas Law Firms & Fiduciary Debt Collection Service

This service centres around the ‘no win – no fee’ recovery of overseas law-firm and fiduciary debt.   We have been working in this field for over 25 years and have recently acquired an un-paralleled capability to considerably increase the scope and reach of our offering. CCICM have engaged with The Connolly Partnership. Mike Connolly, their founding partner, has an enviable 25+ years working in all aspects of Credit Control, Debt Recovery, and Related Law to the legal profession and he specialises in offshore recoveries. This also extends to the fiduciary debt market, and Mike counts many of the worlds’ leading law firms and providers of fiduciary services as Clients.

The service is discreet and extremely effective and is underpinned by over a quarter of a century of collection successes and acquired best practice. Much of the money we recover can be characterised as ‘too old to collect’ or perceived as ‘uncollectable’ ‘and may even be debt that our Clients have made provision for a write-off, or, actually written off already.

We are often asked to collect more recent balances where the client has determined that our service is a far more cost-effective solution than a fee-earner or Partner using valuable billing hours chasing outstanding amounts.

Email:

Tel: 01766 772288

Mobile: 07375 374914