Improving management of bankruptcies

TDX Group bring bankruptcy servicing into mainstream recovery strategies for a complete insolvency management service.

Insolvency management debt solutions case study

The project

• Bankruptcy Exchange is the only independent bankruptcy servicing platform in the UK
• Bankruptcy Exchange sees 40% of all bankruptcies
• £572 million under management across 175,000 accounts
• Bankruptcy Exchange manages placement strategies through a scorecard
• Secure trustee appointments from the Bankruptcy Exchange panel of preferred insolvency practicioners on 53% of cases nominated
• Voting influence used to successfully reduce trustee fees in 49% of cases

Situation

Delivery of a full bankruptcy servicing solution.

TDX Group solution

• Bankruptcy Exchange incorporating preferred trustee panel.

Results

• On-going innovation to the Bankruptcy Exchange platform and service includes case status and expected dividends tracking:
  • monthly view of trustee appointments and discharge from bankruptcy
  • dividend increased by an average of 57% on insolvency service distributions
• Full management of portfolio life cycle tracking values cases beyond year five
• Third party oversight compliance via trustee management
• Quick and easy mobilisation with client take on completed in four weeks.

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