Creditor Payment.......

[schmalex]

Folks,

I am a preferntial creditor of my previous employer, who went into administration in December 2009.

I left the business, with them owing me around £15,000 of commissions earned. I received a letter this morning from the administrator, telling me that my claim as a preferential creditor has been agreed at £560 gross. Is there any way I can fight this & demand more money, or do I have to bend over & accept what they have offered?

Cheers

Alex

[Eric Mc]

You can always fight this but you have to weigh up the time, cost and effort required versus the expected outcome. If there is limited money in the pot to pay out creditors, then whether you are preferrential or not, you can only have what is available.