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Top Service Ltd: Response to Rogue Recovery

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The Insolvency Service has announced the High Court’s decision to wind up rogue recovery service Global Investigations and Recoveries Limited (17 May 2021). 

The Government press release published 2 June 2021[1], states that Global Investigations and Recoveries Ltd failed to ‘co-operate with the Insolvency Service’s enquiries and did not deliver any accounting or trading records. Investigators could not establish the full extent of ‘harm caused ‘by Global Investigations and Recoveries but it is understood that one potential victim was quoted £4,000 to engage with the rogue ‘debt collection’ service.

“At Top Service we regularly field enquiries from customers when they are approached by agencies claiming they can collect from insolvent companies. Our advice is to remain vigilant and to be wary of anyone who claims they can collect money from an insolvent business, it isn’t impossible, but claims must meet certain criteria. Over the years supporting the construction industry we have seen many bogus debt collection businesses come and go, we advise our customers to carry out extra due-diligence checks whenever an agency asks for money up-front for collection work.” Emma Miller Company Director at Top Service Ltd.

Construction companies’ write-off thousands of pounds because of bad debt caused by late and non-payment each year and the sector overall ranks high on the national insolvency table which makes businesses operating in the built industry especially vulnerable to fraud and the target of unscrupulous phoenix companies.  

“There are certain occasions when limited liability will not fully protect a company’s directors or shareholders and they may subsequently be held responsible for the debts of their company. Where a Company has gone through a formal / terminal insolvency procedure an office holder would look to investigate the company and follow up with any wrongdoing in order to maximise returns to creditors. Its therefore unlikely an outside agency would be able to take action off their own back unless instructed to do so by a creditor or Insolvency Practitioner. The most typical examples where it may be the case that a claim could be made against a Director personally include, 

Preference:  placing a creditor or guarantor in a more favourable position than would have been the case if the payment had not been made. Transactions at undervalue: selling assets for less than their true value.” Paul Hughes, Restart BTI

At Top Service we urge the construction industry to seek advice and do the necessary background checks when approached by any individual or company claiming to be a debt recovery specialist. At Top Service Ltd we take compliance very seriously having been trading for 30 years we are known for our attention to detail and high-quality customer service. All senior Top Service staff are members of the Chartered Institute of Credit Management and our collections professionals are hand-picked and trained to the highest standards.  Top Service Ltd is authorised by the FCA and corporate member of the Credit Services Association (CSA).  We work in partnership with trusted law firm Silverback Commercial Law Services Ltd who also have an excellent compliance record.

Are you struggling to recover the money you are owed?

Top Service debt recovery service is operating normally. Our team are proving that their skills are second to none with the results we are achieving during this challenging time. Top Service members have access to an exclusive combination of no collection, no fee recovery services.

“We welcome the opportunity to talk to you about any bespoke changes you would like to make to our debt recovery procedures to fit the culture you have for maintaining customer relationships, whilst addressing the need to keep cash flow as fluid as possible for your business.Please contact our collections team to talk through any individual cases or to explore how else we can support you,” Emma Miller, Company Director Top service.

Contact our helpdesk team today on 01527 518800 to discuss how Top Service can support and help you protect your business.