It’s a fact of business life that your business will suffer bad debt.

It’s also a fact that most of the paperwork you receive informing you of the bad debt and the subsequent insolvency proceedings can be somewhat difficult to understand.

Also, if you’ve received the insolvency paperwork, you’re not getting paid, right? Not necessarily….

The North East Business Support Scheme (NEBSS) has been set up by Robson Scott Group to provide a service to North East businesses to manage and maximise their returns from insolvent customers. We will review the paperwork, and give you a clear, concise outline of the process (whether that be Pre-pack Administration, Liquidation, Company Voluntary Arrangement “CVA”, or an “IVA”). We will then contact the insolvency practice dealing with the case, and come back to you with a realistic appraisal as to whether you will get your money back, if so, how much and when. We will then manage the process of receiving future reports and ensuring the most amount of money is paid directly to you in the shortest time possible.

Below are some of the more specialist areas NEBSS also look at:

Retention of Title (“ROT”)

If you have an ROT clause, and wish to reclaim your stock, we will assess its validity and work with your customers/Insolvency Practitioner for the return of the stock.

Landlord or Tenant

Landlords and tenants have different rights within insolvency, so if you are either of these, we will make sure your position is protected, not ignored.

Investigations

If you have any concerns as to how the business owners/directors conducted themselves prior to the insolvency, we can assist in investigating those.

The Process

If you are concerned that one of your customers has stopped paying and might be going bust, phone Eamonn or Nikki on 01325 365 950 or email, and they will take you through some basic questions. If you have received some insolvency paperwork, email it, with details of how much you are owed to creditors@NEBSS.co.uk, and we will review and give you a call back. We will then manage the process on your behalf, ensuring that the highest amount possible is repaid to you.

How much does it cost?

We offer this service for NO charge. It’s a way for us to build relationships with other North East businesses, and so we happily carry out the assessments for free.

What benefit is there to you?

It’s a free service, but most of all it produces results. NEBSS manages the process for you, leaving you to run your business. We provide you with clear, transparent, information so you understand exactly what is happening, and when. Finally, it will increase the money returned to you. Not always, but often enough to make it worthwhile, as we know that by engaging with your customers’ insolvency practitioner we are able to increase recoveries, or even to get them to agree to reduce fees, thereby increasing the money returned back to you.

To find out more, contact NEBSS – any North East business can join the scheme.

So now managing your bad debts is a simple and FREE 3 step process

  1. You receive insolvency paperwork from your customer’s insolvency practitioner.
  2. You email creditors@nebss.co.uk the paperwork or fax it to 01325 359 697 marked FAO. NEBSS, with full details of the money that is to owed to you, and any other issues you want to raise.
  3. We report back to you on the likely return on your debt, and manage the process for you from there on. You will receive regular reports from us on the likelihood of getting your money back and when. We will also update you on any other issues you might have raised (such as the directors’ conduct, or retention of title).