Insolvency Practitioners Association

The Insolvency Practitioners Association, or IPA, operates within the UK, regulating Insolvency Practitioners working within the country.

Insolvency Practitioners themselves are professional individuals who give advice to people or companies in financial difficulty, as well as carrying out Insolvency processes. An Insolvency Practitioner will first assess your financial state in terms of debts etc, giving you an overview of the situation as well as helping you to understand and choose between the options that are available to you.

Avoid Bankruptcy

In many cases, consulting an Insolvency Practitioner early enough can help to avoid going down the route of bankruptcy. On such occasions, they may help you to work out an agreement with any lenders so that your business can continue to function, helping you to make the best use of your assets to resolve the situation.

Practitioners

Anyone acting in the role of Insolvency Practitioner is required by UK law to be authorised to carry out the role, as dictated by the Insolvency Act of 1986. Authorising practitioners is one of the roles fulfilled by the IPA, as is regulating the practice as a whole.

Standards

If you’re planning to use the services of an Insolvency Practitioner, it’s best to go through the IPA, or at least to choose one of their members. Choosing a member of the IPA means that the practitioner has not only been authorised by them in the first place, but also that they have fulfilled the IPA requirements of professional standards and practices.

By joining the IPA, Insolvency Practitioners sign up to their ethical and professional codes of practice, and commit to continued professional development to ensure that they are in a position to execute their duties to a high standard.

Members of the IPA can act in the roles of trustee, administrator and liquidator in relation to companies that are experiencing financial difficulties.

IVA.net is owned by McCambridge Duffy who are one of the leading insolvency firms in the UK and Northern Ireland. We offer IVAs and other Insolvency solutions. On our website you will see information on formal and informal debt solutions. Although we do not offer informal solutions, we provide this information so you have a clear overview of the options available for dealing with your debts. If an Insolvency solution is not suitable or you would prefer to take an informal route, we will recommend an appropriate provider, with your permission.

McCambridge Duffy LLP is a Limited Liability Partnership registered in England and Wales. Registered number OC309544

A fee is only payable where further services are requested. Fees will depend on which debt solution you opt for and what your financial circumstances are. All fees will be explained in detail and discussed prior to commencement of any debt repayment plan. Repaying debt over a longer period may increase the total amount to be repaid.

All debt advice is provided by our sister company National Debt Relief.