How To Find An Insolvency Practitioner You Can Trust
Whether you’re looking to close your company down or are looking for ways to rescue it, it’s crucial to find an insolvency practitioner that you can rely upon. There’s definitely no shortage of insolvency practitioners out there, so the big question is how do you find an insolvency practitioner that you can trust? There are 4 key factors that you need to consider in order to find an insolvency practitioner in the UK that is reliable and will achieve the best results possible for your business.
Qualifications
It may seem like an obvious point, however it’s essential to check that the insolvency practitioner is licensed to carry out the closure or rescue of your company. Sadly, some firms will claim to offer professional insolvency advice, without being properly qualified to do so, and so it’s crucial to be wary of this. In order to become a licensed insolvency practitioner in the UK, individuals will need to have passed JIEB (Joint Insolvency Examination Board) examinations. Their work is regulated by the Insolvency Act 1986 and is subject to regular inspections by a governing body. When you’re looking to find an insolvency practitioner, you need to check that their qualifications are recognised. Our team of licensed insolvency practitioners at My Liquidation are recognised by The Institute Of Chartered Accountants In England And Wales (ICAEW), as well as ACCA and R3.
Experience
Experience is another key factor to look for when looking to find an insolvency practitioner you can trust. This demonstrates that they know the ins and outs of their trade, and are able to accommodate the individual needs of your business, using their expertise to implement the best path forward for your business. Our team has successfully assisted companies of all shapes and sizes for many years, in a variety of different sectors. We have experience in administering all insolvency processes, and tailor our advice to every business’ individual needs.
Cost
Of course, cost will also be a big factor when you’re looking to find an insolvency practitioner. This is likely to be one of your biggest concerns, particularly when your company is in a place of financial difficulty. We understand that directors will want to understand the cost implications of a liquidation before entertaining the idea further. That’s why we’ve created a bespoke online tool to provide you with a quote for your liquidation process within seconds. Our experienced team will then follow up with you within 24 hours, at a time that suits you, to discuss the best options for your company. If your company is insolvent, you’ll need to request a quote via our CVL page (this is the liquidation process for insolvent companies). If your company is solvent, you’ll need to request a quote through our MVL page (the liquidation process for solvent companies).
Communication
It’s essential to find an insolvency practitioner that you can build a good relationship with. They need to be able to communicate the process effectively, working with you to implement the best path forward for your business. At My Liquidation, we pride ourselves on providing high quality advice in a straightforward manner, taking into account your business’ individual needs. We will be on hand to support and guide you through every step of the process.
If you would like to chat with a member of the team for more information, please don’t hesitate to get in touch with us.
