About Us

The Creditor Gateway Limited (“TCG”) was formed in 2010 specifically to address the changes to the Insolvency Law brought about by the modernisation of the Insolvency Rules. These changes came into force on 6 April 2010. The founder of the website has a background in insolvency and has worked in the industry for the majority of his career. TCG is sympathetic to the requirements of creditors having had first-hand experience dealing with those suffering loss through the failure of a company they have supplied with goods or services.

TCG is a secure website for Insolvency Practitioners (“IP”) to host reports to creditors, in line with the modernisation of the Insolvency Rules. It offers a quick and easy solution for the IP to manage and allow electronic access to the general body of creditors of an insolvent company.

The Insolvency Service has stated that there will be better returns from insolvency procedures as the IP is able to save money by taking advantage of electronic means of communication and simplified administrative processes. For the industry these savings are estimated to amount to around £30m a year. These projected savings will ultimately lead to a better return for creditors.

TCG agree, and with report uploads starting from as little as £10+VAT per individual company report to creditors, it is easy to see how these cost savings can be achieved. For example, a company with 100 creditors requires a minimum of 3 reports to be issued following the appointment of Administrators; the initial proposals to creditors, the 6 month update report to creditors and the final 12 month report to creditors. This will cost £30+VAT in total using the services of TCG. In simple terms this cost works out at less than a quarter of the price of a 1st class stamp per creditor.

In line with the modernisation of the Insolvency Rules, a single page letter can now be sent to all creditors of a company with the TCG website address and unique individual password for that particular insolvent company, allowing the creditors of that company to securely log on and gain electronic access to the full formal report to creditors. Even before considering the Administrators’ staff time cost savings and material cost savings associated with sending a single page letter compared to a large report you can see the cost savings are substantial. These cost savings will ultimately flow through to the creditor resulting in a better return compared to returns prior to 6 April 2010.

The cost per upload is based on the number of creditors a company has and therefore the potential traffic to the website.This means the lower the number of creditors the lower the administrative cost to the company and the IP. This sliding scale ensures that the administrative cost of running the website is kept to a minimum, ensuring cost savings across the board for the small insolvent company right through to the large insolvent company.

In line with data protection requirements, each insolvent company will have a separate dedicated secure webpage thus ensuring only creditors of a particular company have access to that company’s information. This webpage is reached by entering a unique password on the TCG homepage which will then redirect the creditor to the appropriate company’s listing of reports.

TCG offers the IP a dedicated email address with guaranteed same day uploading of documents with reports being available online before 5pm (if the report is delivered electronically to TCG by 4pm) or by 11.59pm (if the report is delivered electronically to TCG by 11pm). This ensures the strict statutory reporting guidelines for the IP are adhered to. TCG also offer the IP the opportunity to “brand” their secure insolvent company webpage in line with their corporate requirements using our dedicated web design partners Evolutia Design.

For prices, queries and/or any further details please contact us at queries@thecreditorgateway.co.uk