R3 (the trade association for the UK’s insolvency and restructuring professionals) have recently reported that they have had several complaints from creditors of insolvent companies that they have been targeted by companies claiming to have investigated the insolvent company and offering to collect the creditor’s debt.

They charge an up front fee but have no knowledge of whether there is going to be any payment to creditors at all.

Creditors – don’t be fooled by these cowboys and please do not waste further money.

If there is going to be a dividend to creditors you will be informed by the appointed insolvency practitioner.