What should you do before meeting an Insolvency Practitioner?

Although, it is a good idea to be prepared for your initial meeting with an Insolvency Practitioner; please don’t worry – my advice is free so there is no need to clock watch and if we don’t cover all your questions in the first meeting, you call or text me or set up another meeting.

If you want to prepare for the initial meeting I would recommend the following:-

1. Gather Financial Documentation

I would gather together a list of all the Company’s assets (stock list with any known values) and a list of the Company’s creditors (names, addresses and amounts).

If you have the last set of full accounts I would also recommend that you have this available.

Please click here for the questionnaire that I request Directors complete.

2. Directors' Overdrawn Loan Account

To give you peace of mind, I would review whether you owe the Company any money; i.e. is there an Overdrawn Directors Loan Account.

Review the last set of accounts or ask your accountants.

3. Prepare Questions and Concerns

Prepare specific questions about the insolvency process, your responsibilities, and potential outcomes.

If you do forget to ask a question during the meeting, feel free to call, text or email me!

By following these steps, you can ensure that you are well-prepared for your meeting and I will ensure you have the most effective and tailored advice for your situation.

^{Photo by Mikhail Nilov}