Why you need to obtain regulated insolvency advice

If you are a company director looking at closing your company due to mounting financial pressures, you may be unsure where to turn to for advice. After all, putting a company into liquidation isn’t something most of us do every day.

Many companies operating online are simply lead generation firms providing insolvency advice and are not qualified insolvency practitioners. They will take your details and sell them onto a third party for a price. At Company Closure we do things differently.

As a fully regulated insolvency firm, we have over 100 fully licensed insolvency practitioners located across the length and breadth of the country, here to help company directors just like you to navigate through their most trying times.

From your very first call to us, you will be speaking directly to a member of the Company Closure team, not a third party. Your liquidation will be handled by one of our partners who will keep you updated every step of the way.

Luckily there are some tell-tale signs to look out for when you are searching for an insolvency practitioner which may indicate they are actually a lead generation firm. They include:

• Being given an initial low ‘off the shelf’ price rather than a personalised quotation
• They do not employ any licensed insolvency practitioners in-house
• Your adviser cannot provide you with their IP registration number
• They are dismissive of your concerns when it comes to outstanding liabilities; they tell you what you want to hear not necessarily what you need to hear
• They do not discuss the implications of having an overdrawn directors’ loan account or how this will be dealt with
• Their insolvency advisers are not registered by a recognised professional body such as the IPA, ICAEW and ICAS
• They ask for the full fee up front before any work on your case has begun
• Communication falls away once you have signed the Letter of Engagement

Company Closure do things differently. Here are some of the things you can expect to receive from us regardless of the size of your company:

• Free and impartial advice helping you to understand all of your options right from the start
• A clear roadmap of the closure process from start to finish so you know exactly what to expect before committing
• A named contact who you can speak to at any point throughout the process
• Your case managed by an experienced and fully licensed insolvency practitioner
• The liquidation of your company dealt with in full accordance with the Insolvency Act 1986
• The knowledge of over 100 licensed insolvency practitioners and a nationwide network of offices
• Communication via face-to-face meetings, video, or telephone calls – whichever option works best for you
• The security of enlisting the UK’s top choice for company closure (based on number of liquidations completed)
• Fully regulated firm which is part of Begbies Traynor Group Plc