The debt collector Roxburghe (UK) Limited has gone into administration, with the administrators called in on September 16th 2014.
Joint administrators Asher Miller and Henry Lan, both licensed as insolvency practitioners by the ICAEW, were named in a statement on the Roxburghe website.
Both represent David Rubin & Partners, a London-based insolvency specialist, and their appointment was also announced in The Gazette on September 19th.
The development leaves debtors and creditors alike on uncertain ground, and it is unlikely that any further debts will be recovered by Roxburghe in the immediate future, regardless of whether the administrators are able to recover the business.
In the meantime, if you are owed money by debtors of your own and have previously used Roxburghe for your debt collection work, it may be sensible to switch to an alternative debt recovery organisation.
At the Cash Protection Agency we are ready to take on new work, and welcome enquiries from former Roxburghe clients who have been left in the lurch.
We can also advise on any recovery action that is already underway, and how best you can proceed with this given that Roxburghe are unlikely to be able to continue any proceedings that have already commenced.
Remember, if you are owed money by a debtor, then you have a right to claim that money back – you should not lose out because a third-party debt recovery firm has gone into administration.
So if you had work already underway which has now been thrown into limbo, contact CPA and we can help you to work out what to do next.
Unfortunately this might mean beginning again in terms of chasing the debt, but by switching to a stable debt collections specialist you will send the clear message that even an adverse scenario is not going to dissuade you from pursuing your debtor for full payment.
This might have the unexpected bonus of convincing them to pay up in full, as it should be clearer than ever that you are not going to simply go away.