A person licensed by his/her recognised professional body to act in accordance with Insolvency law in acting as office holder in formal insolvency procedures.
You will need to pass Insolvency Examination Board (JIEB) exams.Once passed you can apply for an Insolvency Licence.
Liaising with directors & shareholders of Insolvent companies and carry out all statutory duties as office holder to ascertain the best outcome for creditors.
Liaising with directors & shareholders of Insolvent companies and carry out all statutory duties as office holder to ascertain the best outcome for creditors.
Liaising with directors & shareholders of Insolvent companies and carry out all statutory duties as office holder to ascertain the best outcome for creditors.
This usually takes up to two years from the date of liquidation.
- As an appointed Liquidator, the liquidator will
- Liaise with creditors and resolve any issues with creditor claims
- Take steps to sell the equipment and plant. (If required)
- Commence collection of outstanding book debts
- Carry out reports to the government bodies
- Deal with employee claims and so on.
Your credit rating will be affected for 6 years from the date the arrangement is agreed, so all avenues should be explored prior to an IVA.
Your credit rating will be affected for 6 years from the date the arrangement is agreed, so all avenues should be explored prior to an IVA.
An IVA will not usually have any affect on your job unless you are a solicitor or an accountant, but this would always be explored and explained prior to signing up.
A tailored plan replaces all your current payments (to unsecured creditors) with one affordable payment, suited to your individual financial circumstances and is usually paid over a five year period.
