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

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The project

  • BKX is the only independent bankruptcy servicing platform in the UK
  • BKX sees 40% of all bankruptcies
  • £572 million under management across 175,000 accounts
  • BKX manages placement strategies through a scorecard
  • Secure trustee appointments from the BKX panel of preferred IPs 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

  • BKX incorporating preferred trustee panel.

Results

  • On-going innovation to the BKX 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

Case status reporting
Dividend uplift

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