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Turnaround / Insolvencies
Assisting in Turnaround and Insolvency Scenarios
SFP Recoveries attend all insolvencies in order to protect a lender’s exposure in relation to factored sales ledger or to maximise collections for the benefit of the insolvent company.
SFP Recoveries undertake the following:
- Complete a full reconciliation of a company’s sales ledger to identify all ledger discrepancies;
- Identify non factored and additional invoices to raise and upload to the lender’s ledger;
- Report on how collectable the sales ledger is and identify any issues which may affect collections;
- Reconstruct and compile all invoices along with supporting documentation to substantiate all debts and elicit payment;
- Ensure that backups of all financial and sales ledger data are taken from site;
- Reorganise, manage and implement company credit control systems and processes to maximise cash flow; enforce director cooperation and meetings to ensure all issues are tackled;
- Takeover collections on certain debts who will only deal with Administrators/Liquidators; and instructing and liaising with specialists to deal with contentious or contractual debt;
- Assist lender with any additional information required for the lender; and
- Provide ongoing support on issues and disputes.
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