Top Service News
National Insolvency Report: Monthly Statistics March 2022
Published on
National Insolvency figures published (22 April 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in March 2022 was 2,114:
- More than double the number registered in the same month in the previous year (999 in March 2021), and
- 34% higher than the number registered three years previously (pre-pandemic; 1,582 in March 2019).
The report also states that `in March 2022 there were 1,844 Creditors’ Voluntary Liquidations (CVLs), more than double the number in March 2021 and 62% higher than March 2019.’
On the 28th March 2022 the Government has announced that the last of the Temporary Insolvency Restriction Protections are being lifted.
To help protect businesses from insolvency a number of changes were introduced under the Corporate Insolvency and Governance Act (Coronavirus) to protect business from creditor action since June 2020.
Most of these measures expired at the end of June and September 2021, except for restrictions on winding up companies, which were extended until 31 March 2022. This remaining insolvency restriction will not be extended further, allowing the insolvency regime to return to its pre-pandemic operation.
Post Insolvency Debt Collection Service
We provide Insolvency Practitioners with a tailored end to end Post-Insolvency Debt Collection Service. We provide our service in collaboration with Silverback Commercial Law who offer competitive rates if legal action is required to recover monies owed.
What we offer
- Free of Charge Ledger Consultation
- Collections Process with online access to live information on all cases
- Retention & Contract Collections
- Legal Action to Recover monies owed
- Dispute resolution
What makes us different?
- Our bespoke collection strategies mean that no case is treated the same. Our access to credit information and exclusive trading experiences enables us to change strategy quickly when our incoming intelligence is received, providing excellent results.
- Fast, effective collections. We know that speed is of the essence, so all collections are given top priority. We don’t just go through the motions, our experienced and highly skilled team members are adept at tricky negotiations, dispute resolution, tracing absconded debtors and thinking outside of the box to achieve tangible results.
- Fully compliant. We have been trading for 30 years and we have always taken compliance very seriously. We are authorised by the FCA and Top Service Ltd is a corporate member of the Credit Services Association (CSA). All senior Top Service staff are members of the Chartered Institute of Credit Management and collections professionals are hand-picked and trained to the highest standards.
- We have more than 30 years of experience in collecting commercial and contract debts.
To discuss our Post Insolvency Collections Service with a member of our expert team please email insolvencycollections@top-service.co.uk.
Are you struggling to recover the money you are owed?
Contact our helpdesk team today on 01527 518800 to discuss how Top Service can support and help you protect your business.