Top 10 of 775 law firms for Unsecured Creditors, Debt and Tax Law
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This area covers what happens when a borrower or company owes money but there is no security to fall back on. A solicitor helps a creditor to protect and recover unpaid debts through insolvency processes, including submitting proofs of debt, negotiating with the insolvent party or their liquidator, and attending creditors’ meetings. They may advise on possible alternatives such as restructuring arrangements or actions against directors in certain cases, and they work with insolvency practitioners and courts to pursue recovery in England.
What a solicitor handles in these matters
A creditor’s claim must be properly evidenced and submitted in the insolvency process, and the solicitor will guide the client through potential challenges such as disputed proofs of debt, preferential or connected transactions, and the hierarchy of payments. The solicitor also liaises with the office of the official receiver or licensed insolvency practitioner to protect the client’s position and maximise recoveries within the statutory framework.
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