The Insolvency Service has issued a £6m tender for debt recovery services relating to bankruptcy. The three-year contract covers the pursuit and collection of debt in both the consumer and commercial space on behalf of the official receiver. Beyond the initial three-year term is an option to extend the contract, which is worth between £3.5m – £6m, for a further two years. Most recovery attempts (95%) will involve pursuing income payment agreements from bankrupt individuals or book debt collections on money owed to the bankrupt. PPI insurance compensation refunds and recoveries from company directors are also covered by the contract. The remaining 5% of instructions will involve antecedent transactions – where assets disposed of before an estate went bankrupt can be pursued....Read more here: Insolvency Service issues debt tender