Insolvency Practitioner

Contacting an Insolvency Practitioner (IP)

By law, you need the help of an Insolvency Practitioner or IP to propose an Individual Voluntary Arrangement to your creditors.

Michael Chamberlain leads the team of experts who provide the telephone advice for The Debt Helpline. He is a qualified, licensed Insolvency Practitioner, IP number 8735. This can be verified on the Insolvency Service website.

Will I Have To Pay For This Service?

Insolvency Practitioners do not provide their services free of charge. However, this does not mean that you will have to find the money to pay a bill up front if you want their assistance to undertake an IVA. Many Insolvency Practitioners take their fees from the IVA fund that you pay into each month. Therefore, you should not have to pay more than your agreed monthly payment. Different Insolvency Practitioners have different charging methods and you should ask how they take their fees. Some Debt Management companies and IPs offer free consultation at the start. You should take advantage of offers such as this and get as much free advice as you can.

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