to help you make an informed decision..
Our advice, tailored to your particular circumstances, will help you decide how to tackle your financial difficulties. However, we have put together a selection of useful documents and guidance notes (including our own Insolvency Technical Bulletins) which we thought would benefit anyone wanting to do some background research in the first instance.
Dealing with insolvency matters can be quite complicated. In order for us to provide the most appropriate advice or guidance to you, we need to find out as much as possible about your financial circumstances. This means that you must be prepared to make a full disclosure of your financial affairs to us, even if this might be a little painful or even embarrassing!
Wherever possible, we will always meet face-to-face with you to discuss your situation. We will, at the very least, discuss your situation by telephone. Our initial meeting with you will always be free of charge, principally because it is a fact finding meeting, together with an opportunity for you to get to know us and for us to get to know you. Being able to build trust between us is vital in being able to provide you with a solution.
As such, we do not provide a purely on-line service. Whilst we may communicate by email, we will never accept formal instructions through our website. Such instructions (known as a “Letter of Engagement”) will be in a written form (even if they have been emailed to you) following your agreement on how to take matters forward and you will need to sign the Letter of Engagement and return it to us before we can undertake any work.
Once instructions have been agreed, the person named in the Letter of Engagement dealing with your financial matters will be your main point of contact and you should always contact them in the first instance if you need anything.
We are only required by Statute and Regulation to provide an annual written update to anyone (including you!) involved in your affairs in which we are acting. However, if you need an update at any time, you simply need to call us!
For formal purposes, REGULATION (EU) No 524/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 21 May 2013 on online dispute resolution for consumer disputes and amending Regulation (EC) No 2006/2004 and Directive 2009/22/EC (Regulation on consumer ODR) therefore does not apply. If you require more information on this please click here.
It is considered that office holders are permitted to record a virtual meeting to provide clear evidence of the proceedings of the meeting. Provided each attendee gives consent (which can be inferred, depending on the circumstances), recording the creditor meeting is permissible under the Regulation of Investigatory Powers Act 2000. However, as a person’s image is personal data, the recording would qualify as a processing of personal data as dealt with in our data protection policies (see our legal and regulatory information for further details).
Consent can be inferred depending on the circumstances. For the avoidance of doubt, we consider that the deliberate actions taken by a creditor to join a virtual meeting indicate their consent to matters being recorded.
Our policy in respect of the recording of Virtual Meetings is as follows:
“All virtual meetings of creditors will be recorded (video and/or audio) in order to establish and maintain records of the existence of relevant facts, or decisions that are taken at such a meeting. By attending a virtual meeting you consent to being recorded, including possible recordings of your facial image. Where any recording of a virtual meeting also entails the processing of personal data, such personal data shall be treated in accordance with the relevant data protection legislation in force at the time of recording“.
Costs are sometimes an issue for people seeking advice from us or instructing us to assist them. Rest assured that our first meeting with you is always free.
We do however expect to be paid for the work we do for you, but equally you have the right to expect good service and value from us. It may also help you to think about “What would the cost be to me if I didn’t employ an Insolvency Practitioner to help me with my financial difficulties?”
We will always agree the basis of our costs with anyone instructing us, or where we are appointed as a Liquidator, Administrator etc. So that you are aware of the basis of our costs we have included here our schedules of remuneration and disbursements for the last five years – if you require a copy of previous schedules, please contact us.
If you have any questions after looking through this section please contact us.
Any client work will also be governed by our Terms & Conditions. A copy of our latest T&C’s are as follows:
Payments to Office Holders
Office holders have strict Guidelines to observe in respect of what they are paid – these are contained in current Legislation as well as the Statements of Insolvency Practice (“SIP”). SIP9 provides details of what can be paid and how and has been revised in line with best practice since its introduction in 2002. The various versions are shown below and are applicable to a case where the case appointment date falls within the date range of the appropriate SIP9:
Detailed Guides in respect of the different insolvency processes have been produced for Creditors (including those relating to the fees and costs of an Office Holder), the latest versions of which can be downloaded here:
The Insolvency Service publishes hundreds of documents relating to insolvency matters, both corporate and personal, which can be found here. We have not included any of these documents on our website as they are published by The Insolvency Service and are regularly updated by them.
You can also access further insolvency-related information from the main Insolvency Service website here.
The Association of Business Recovery Professionals also have a microsite dedicated to providing information to creditors on the various insolvency processes which can be accessed here.
If you have any questions after looking through any of the above, please contact us.