Insolvency Practitioners vs. Insolvency Specialists

What or who are Insolvency Practitioners?

An Insolvency Practitioner is an individual who is qualified to act in formal insolvency matters. This means any Insolvency procedure which is governed by the Insolvency Act.

It is important to distinguish a Licensed Insolvency Practitioner from Insolvency Specialists or Insolvency Experts. An Insolvency Practitioner is licensed by a regulatory body, you check whether an Insolvency Practitioner is licensed by asking for his or hers license number and who their regulatory body is.

A Licensed Insolvency Practitioner is regulated and supervised for giving insolvency advice and for transacting insolvency cases an Insolvency Specialist is not licensed or regulated for such services.

So remember an Insolvency Specialist or Insolvency Expert is not licensed or regulated and cannot act as an Insolvency Practitioner.

If your advice comes from an Insolvency Specialist or Insolvency Broker you’re better off getting free advice down your local pub.

Anyone other than a Licensed Insolvency Practitioner offering insolvency advice is more than likely a broker who is trying to take a fee from you or the Insolvency Practitioner for introducing you to the Insolvency Practitioner.

So ask yourself would you rather pay twice for advice from a non-regulated non-qualified individual or would you rather get the facts from a Licensed and Qualified Insolvency Practitioner.

Here at Liquidation.co.uk we only advice through our in-house Insolvency Practitioners, who are also Director’s of our company.

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