Irwin & Company is a specialist firm of licensed insolvency practitioners based in the West Midlands. We provide proactive, forward-thinking solutions to businesses and individuals facing financial difficulties throughout the West Midlands, England and the United Kingdom.
With offices situated around the UK, we help to guide those in financial difficulties through the maze of legal, practical and technical issues, offering clear, impartial, unambiguous advice so you can get your personal life and your business back on track.
What Is an Insolvency Practitioner?
Insolvency is a situation where an individual or company can’t pay what they owe on time, or their debts are greater than the value of their assets. The Insolvency Act 1986 sets out the formal legal processes for people and companies that are insolvent.
An insolvency practitioner (IP) is licensed and authorised under the Insolvency Act 1986 to perform a specific role in relation to an insolvent individual, partnership or company.
The industry is highly regulated and all IPs must hold a license, have passed the JIEB insolvency examinations, have experience in insolvency work, and satisfy one of the insolvency regulators that they’re fit and proper to act as an IP.
As insolvency practitioners, our role is to guide you in the right direction. We give advice to help you reverse financial failure. If that isn’t possible, we’ll help you find the right solution for you and your business.
How Insolvency Practitioners Can Help You
There are a number of ways our experienced team of insolvency practitioners can help with your financial problems, whether you’re an individual, company director, or partner in a firm facing financial difficulties.
Our advice is to seek professional help as soon as possible. As insolvency practitioners, we may be able to limit the damage done to your business or personal reputation, before it’s too late. We can provide an independent assessment of your situation, and offer comprehensive information about the various procedures open to you, outlining any implications or impacts they may have. Then we’ll advise on the most suitable course of action for your situation.
Amongst the solutions for personal insolvency – which can include small business owners operating as sole traders – are negotiating agreements with creditors, debt management plans, Individual Voluntary Arrangements (IVAs), and Debt Relief Orders (DROs). We can also help with bankruptcy, although this is a last resort option.
For limited companies and partnerships, solutions include administrative receivership, Company Voluntary Arrangements (CVAs), Partnership Voluntary Arrangements, and voluntary or compulsory liquidation.
Why Choose Irwin?
At Irwin & Company, our experienced team of licensed insolvency practitioners has many years’ experience in dealing with personal and corporate debt problems.
We take a case-by-case approach, reviewing your financial and trading history to determine your most effective route to recovery. Our empathetic, non-judgemental team are there to guide you every step of the way, offering a compassionate ear and understanding approach, while providing a professional service to help you achieve your desired result.
If you’d like to find out more about our insolvency services, contact Irwin & Company today for a chat with one of our insolvency practitioners.