Should you be at the point where you are planning to declare business bankruptcy, you will require the help and professional services of a reputable insolvency practitioner in order for you to proceed.
What you can do as a first step is to ask people that y0u know for referrals to this type of legal professional, because your friends, relatives, work friends and even the accountant just might know one or two.
- Regarding the accountant, he or she might even nominate him or herself for that very role because many insolvency practitioners have a background in professions such as accountancy.
However, before you decide to go ahead and use your accountant as your insolvency practitioner, you really need to make sure that he or she has some experience in this arena of expertise, and also that there is no kind of conflict of interest.
Contact and Consultation
If you do get a recommendation or two, you should contact and consult with them to get a grasp of what they have to offer.
- If you don’t get any references from anyone, simply go online and use a search engine. After finding one which takes your fancy, check out their reviews.
Once you have the contact information of a renowned insolvency practitioner, your next step should be to go to and meet with them at their offices.
Some may go so far as to provide a free consultation before you commit to their services, which you really should take advantage of.
It is also vital as in any important type of related case to take note of the state of their office.
- If it is dishevelled, unorganised and in need of a general clean up (or hose down!), it clearly indicates that organisation is not really their major strength.
Staff and Location
Also, notice if their staff members are professional and courteous, as well, since you will likely have to see them every time you meet with your insolvency practitioner during the coming legal procedures.
Naturally, but not always the case, location should come into consideration. This is because a long old drive is not normally something which is desirable if you must often meet with your practitioner.
- However, if you’re lucky enough to be hiring top quality experts, the trip will be worth it.
Ask the Right Questions
Finally, it is vitally of the essence to ask relevant questions before you select your insolvency practitioner. Try finding out whether you will be working alongside him or her or the staff for the majority of the time, and how accessible will contact be during the entire process.
The experience and professional qualifications of the insolvency practitioner are also very important, so don’t be shy in asking about certifications and cases from the past. Then ask about the whole procedure itself, including the time period it will likely take. Once you have all of this under your belt, then you can now go ahead and get everything successfully completed.