Help for creditors

Our turnaround and recovery specialists can help you to minimise the effects of a customer becoming insolvent and offer a range of services should you become a creditor.

A customer in severe financial difficulty could seriously harm your business. However, in addition to carrying out credit checks on potential customers and adhering to a clear credit control procedure, businesses can take a number of other steps to minimise the potential effects of the insolvency of a customer.

Retention of title

A retention of title clause in your terms of trading may enable you to repossess your goods in the event of non-payment by your customer. You must be able to identify your goods, which the customer must not have integrated as part of his own product. For example, a cloth supplier may be able to repossess his unused cloth – but not if it has been made it up into finished garments.

Credit insurance

It may be possible to obtain credit insurance against bad debts, which will enable you to recover a percentage of each unpaid invoice in the event of your customer’s insolvency. The availability and extent of cover may be dependent upon the nature of your products or services and the type of customers you trade with.


In some circumstances, you may be able to obtain a personal guarantee from a director of a major customer, or from a parent or other group company.

Services for creditors

When a customer becomes insolvent as a creditor of the business, you need to be prepared for the worst. Our turnaround and recovery specialists can help you with:

Advice on the practical aspects of supplying and recovering goods and alternative methods of recovery.

Advice on all of the options available to you and helping you with the practicalities.

Represent you at creditors’ meetings and producing a report, free of charge, setting out the prospects of recovering your debt.

The next step

If you think a customer may be at risk of insolvency and need advice as a creditor, please contact one of our turnaround and recovery specialists at your nearest location, or complete the contact form.