16, Mar 2024
How to Find Insolvency Practitioner

Find insolvency practitioner are responsible for the insolvency process and ensuring that all creditors are paid what they are owed. It is therefore important to find an IP who is both reputable and qualified. There are many ways to do this including asking friends, family or colleagues for recommendations, using government resources, or checking online reviews. In addition, it is worth considering whether an IP has a strong track record in the type of case you require.

Licensed and Qualified

You can search for licensed insolvency practitioners via the government’s website which allows you to verify their credentials. Another option is to ask for a recommendation from an accountant or solicitor who has a working relationship with an IP in your area. You can also use professional organisations such as the Insolvency Practitioners Association and the Institute of Chartered Accountants of England and Wales for recommendations.

Understanding Your Situation

You should have an understanding of the type of insolvency process you require before choosing an IP to work with. Insolvency Practitioners are experts in the insolvency law, and they will be able to advise you on the best route for your situation. In some cases, they may even be able to help you avoid liquidation through rescue options such as an Individual Voluntary Agreement (IVA) or administration.

As well as offering expert advice, IPs also owe a duty of care to all stakeholders in the insolvency process. This includes providing clear and accurate information, and treating people fairly throughout. If you are not satisfied with the service provided by an IP, you can make a complaint to the Insolvency Service.

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