Accountants do so much more than just balance the books – often they’re the first to notice signs of financial trouble for a company and can even be the first line of defence in fending off those problems.
Some early warning signs of insolvency that an accountant might catch are
- Poor Cash Flow
- Applications for Additional Credit
- Maxed out Bank Overdrafts
- Overtrading
- Bad Debts
- Threats of Legal Action from Creditors
- Ineffective Collection of Debt
While an accountant might be able to identify these issues on the horizon (or even in progress) for a company, they may need some extra hands to actually fix the problem. If you’re an accountant and you’ve noticed a company you work for is at risk of insolvency, it’s possible that Alba Claims can help. You can come to us directly as an accountant or refer a client to us for a free consultation where we will talk about next steps.
How Alba Claims Can Help
If a company is already in dire financial straits, the idea of pursuing legal action to collect outstanding debts may be an off-putting idea, but collecting money which your business is rightfully owed is an easy way to kickstart that cash flow again.
Some claim types that might help your business recover much needed cash are:
- Sums due to insolvent companies by debtors – often in the construction or professional services sector.
- Gratuitous alienations – this is when a director has attempted to put assets beyond the reach of creditors in anticipation of a future insolvency event. A classic example of this is a transfer of property for nothing, or for a sum far less than the true value of the property.
- Unfair preference claims – an “unfair preference” is a legal term describing a transaction entered into by a debtor which has the effect of creating a preference in favour of a creditor to the prejudice of the other creditors.
As the accountant for a business, you’ll direct us where to go and we’ll do the rest. With the combination of your knowledge of the books, debtors, and business, and that of our panel solicitors, we may be able to turn the tide and get your clients or business back on track to financial success.
Funding a Claim shouldn’t Break the Bank
We know that funding a commercial claim or pursuing a debt can be expensive. To make things easier, Alba Claims operates on a no win, no fee basis.
Our innovative funding model allows customers – including administrators and insolvency practitioners – to pursue debts and lodge claims without having to pay any upfront fees.
No fee is payable unless your claim succeeds.
If your claim does succeed, you will know exactly what the fees will be as we agree this with you in advance, in a way which fairly shares the risks and rewards. You are charged a percentage of the sum you recover.
Call our trusted team today on 0131 550 0401 for a confidential chat about your options. Alternatively, complete our online enquiry form and we will be in touch.
