We offer a free assessment, given the facts of your specific matter: our main aim is of course to obtain payment of your claim, or at least part payment, should we proceed.
We don't believe in launching an application unless there's a substantial chance of recovery by way of insolvency inquiry, which of course becomes very viable as the trustee only becomes entitled to 10% of the funds recovered.
A forced application provides an excellent avenue of recovery due to the following:
- The insolvent becomes unable to incur any further debt;
- All the assets of the insolvent debtor will be seized by the trustee for realization;
- The trustee is empowered by the Insolvency Act with various additional remedies;
- An insolvency inquiry is far more effective than any normal financial inquiry;
- The trustee can obtain any additional information simply upon request, such as bank statements, financial statements, accounting records, etc.
Given the advantages and cost-effectiveness of the process, if utilized correctly, a forced sequestration can be much more effective than any normal collection process and in most circumstances your legal costs are 100% recoverable.