The Final Proof of Debt letter will outline how much a creditor is claiming they are owed due to a company falling into insolvency. It will also indicate whether the claimant is preferential or non-preferential.
CLICK IMAGE to view full letter
In an insolvency process such as liquidation, it is unfortunately common for creditors to lose out on payment and they must begin the process of appeal to relevant officer in charge to recoup their losses. The Final Proof of Debt letter is the result of a creditor lodging a claim which is effectively them ‘proving’ for their debt and the document by which he/she seeks to establish his/her claim is his/her ‘proof’.
If you, as the debtor, believe that the creditor claim appears excessive, it may be possible in some circumstances to request that they reduce the claim upon submission of an affidavit by the bankrupt/directors, or where this is not possible a certificate from the trustee or liquidator may be submitted.
12th December 2018
Small and medium-sized enterprises (SMEs) across the UK are paying increasingly large sums of money to collect amounts owed to them by their clients and customers.Read More
4th December 2018
The number of independent retailers who closed down outlets during the first half of this year reached a record high level for any comparable period.Read More