Pre bankruptcy we used Close Invoice Finance. They never paid anything against our our biggest debtor as there was recripocal trading and this could mean a contra agreement.However, they said we were obliged to submit the invoices to them anyway.
On bankruptcy we were owed approx £100,000 and we owed our customer £60,000.
However, months after bankruptcy went through, Close Invoice went after the debtor and recovered the debt.
The trustee never went after Close Invoice to recover any of our debt and claiming that Close Invoice said there was no money left in the 'pot' and they used the £100,000 to cover their losses , but all our other debtors were 100% reputable and i cany see why Close Invoice could have any shortcomings ?
Are they allowed to recover debt after bankruptcy ?
I presume we are talking about a debt factoring company. If so then yes they can continue to collect any of the debts owed to you that were part of the agreement as they hold security over those assets
I presume we are talking about a debt factoring company. If so then yes they can continue to collect any of the debts owed to you that were part of the agreement as they hold security over those assets
Recovering debt after bankruptcy ?
Posted - 12 November 2012 : 20:07:04
