A guide, not advice. This explains how things generally work. A licensed insolvency practitioner will tell you what applies to your company or to you.
How to Choose an Insolvency Practitioner
Choosing the right insolvency practitioner is one of the most important decisions a director will make. The right practitioner will give you honest advice, act in the best interests of creditors, and guide you through a difficult period. The wrong one can cost you money, limit your options, and leave you exposed.
Check the Licence
Every insolvency practitioner must be licensed by a Recognised Professional Body (RPB) - such as the ICAEW, IPA, or ICAS. Check that the practitioner is licensed and in good standing. This is non-negotiable.
Speak to a Practitioner, Not a Salesperson
Some firms operate as lead-generation services - you speak to a call centre or salesperson, and your details are passed on. You want to speak directly to a licensed practitioner who will give you advice, not a sales pitch. Ask who you will be dealing with.
Look for Transparency
A good practitioner will:
- Give you a clear, written estimate of fees before you commit
- Explain the options honestly, including whether liquidation is right or another route is better
- Explain the risks to you as a director
- Answer your questions patiently and in plain English
Look for Experience and Specialism
Different situations need different expertise. Check the practitioner's experience with your type of case - corporate rescue, solvent closure, personal insolvency, or a specific sector.
Consider Local Knowledge
A local practitioner understands the regional business environment, can meet you face to face, and often responds faster. For Manchester-based businesses, a Manchester-based practitioner is usually the best choice.
Beware of Red Flags
- Low headline fees with hidden charges
- Pressure to sign up quickly without proper assessment
- No clear explanation of the risks to you as a director
- No named practitioner willing to speak to you directly
Speak to a Licensed IP
Our Manchester-based, ICAEW-licensed practitioners will give you honest, transparent advice - with a named practitioner, clear fees, and no pressure. Call us for a free, confidential conversation.