Debt Advice

Are you struggling to pay your bills? Then impartial debt advice could help you escape insolvency and get your finances back on the right track. If you’re in deep personal debt or your small business or limited company is facing financial challenges, debt advice could save you from insolvency.

Irwin Insolvency offers expert debt advice in the UK. From budgeting plans to debt management services, our team of professional insolvency practitioners is ready to help you today.

How Can Debt Advice Help?

It’s difficult to admit when you’re facing financial difficulties, but the earlier you ask for debt advice from a professional, the sooner you can start turning things around for the better. In fact, the sooner you recognise that you’re facing financial hardship, the more opportunities there are for debt management plans to help you.

Debt advice in the UK can help if you have any of the following issues:

• You’re struggling to pay personal bills
• Your creditors are chasing you for payments
• You’ve racked up large debts on your credit card
• You own a small business that’s in financial difficulty
• Your limited company has mounting debts
• You’re self-employed and can’t pay your bills
• You’re facing bankruptcy
• Your company is insolvent or facing liquidation
• You’ve been served financial notices by a court of law

Debt advice can help by providing you with impartial financial information that assesses the seriousness of your situation, evaluates your accounts, debts and creditors, and provides solutions that could save you from insolvency.

Can Anyone Give Debt Advice?

Not everyone is legally entitled to provide debt advice in the UK, and anyone offering debt management advice and services must be authorised to do so by the Financial Conduct Authority (FCA).

Companies providing debt advice must ensure the advice they give adheres to the strict standards laid down by the FCA. All advice must be given truthfully, not be misleading, and conform to the FCA’s financial regulations.

In addition, debt advice providers cannot approach you. The FCA has outlawed cold calling in this respect, so if you’re struggling financially you have to contact a licensed debt advisor and ask for assistance.

Is Debt Advice Regulated?

Debt advice in the UK is regulated by the Financial Conduct Authority (FCA). They publish a list of guidelines that anyone providing debt advice or debt management services must follow.

These regulations ensure that debt advice in the UK is legitimate, as a company can face prosecution if they provide false information. Examples of the regulations that the FCA makes debt advisors follow include:

• Providing an impartial and honest assessment of your finances
• Checking for evidence of your financial situation by inspecting bank accounts or tax returns
• Warning what might happen if you don’t pay creditors
• Offering debt management plans based on proven financial expertise and experience
• Providing you with alternative options if initial plans fail
• Keeping accurate documents, records and statements of account
• Responding to complaints promptly when they arise

Where to Get Debt Advice?

You may want to start by consulting publicly available resources for debt advice, including the Citizens Advice Bureau or the government’s Debt Management Office.

Irwin Insolvency’s professional and experienced consultants are licensed to provide debt advice in the UK. We offer personal and impartial debt advice to limited companies, small businesses and self-employed individuals.

Debt Advice for Limited Companies

If your limited company is in financial trouble, we provide advice on company insolvency. We regularly provide impartial expertise to company directors, formulate business turnaround or corporate recovery plans and organise voluntary arrangements, such as CVAs, with creditors. We also oversee administration, administrative receivership and liquidations.

Debt Advice for Small Businesses

Similar to the advice we provide to limited companies, we also offer our expertise to small businesses. Our team can assess your business’s finances and accounts, establish recovery plans and liaise with your creditors as part of our debt advice services. We can also oversee insolvency arrangements, administration and liquidation.

Debt Advice for Self-Employed

We provide expert advice to self-employed individuals who are worried about paying debts or who might be facing bankruptcy. We can assess your personal and self-employed business finances, recommend personal insolvency options such as an individual voluntary arrangement (IVA), and advise on bankruptcy alternatives.

How Can Irwin Insolvency Help With Your Debt?

If you’re struggling to pay your debts, Irwin Insolvency’s experienced team is here to provide impartial debt advice. Our consultants help individuals and businesses facing financial challenges, and our debt management plans could save you from insolvency.

Contact Irwin Insolvency today for expert debt advice in the UK.