Dealing with money problems or business difficulties is stressful. Whether you’re an individual facing debt or a company director trying to save your business, finding the right support is key. One of the most important steps is choosing a licensed insolvency practitioner who can guide you through the process and help you take control of the situation.

At Campbell Crossly & Davis, we understand how difficult these moments can be. This guide will explain what insolvency practitioners do, how to find one you can trust, and what to expect when you do.

What Does an Insolvency Practitioner Do?

An insolvency practitioner (or IP) is someone licensed to help people and businesses manage serious debt problems. They are qualified to carry out legal procedures like company liquidations, administrations, voluntary arrangements, and bankruptcies.

Not just anyone can offer these services. IPs must be licensed by a recognised professional body such as:

• The Insolvency Practitioners Association (IPA)
• The Institute of Chartered Accountants in England and Wales (ICAEW)
• ICAS in Scotland

A licensed IP can take charge of your situation, deal with creditors, and help you find the best legal and financial solution. They also make sure everything is done according to the law.

Why It’s Important to Choose a Licensed Professional

In many cases, only a licensed insolvency practitioner is allowed to carry out certain procedures. But beyond the legal side, working with a licensed IP gives you peace of mind. They follow strict rules and are regularly checked by professional bodies.

Unlicensed advisers or so-called “debt experts” might charge you money and then pass you on to a real IP, often causing delays and extra costs. You could also be at risk of getting poor advice that harms your case.

At Campbell Crossly & Davis, we are fully licensed and regulated. We focus on offering honest, clear advice to help you make the right decision, no matter your situation.

How to Find the Right Insolvency Practitioner

Finding the right IP isn’t just about searching online; it’s about making sure the person you choose is properly qualified and experienced.

You can start by using trusted directories such as:

• The official GOV.UK Insolvency Practitioner Register
• The Insolvency Practitioners Association website
• The ICAEW directory of licensed IPs

These lists let you search by name, town, or company. They also confirm that the practitioner is fully licensed.

Once you’ve found a few names, take time to visit their websites. Look for:

• Clear details about the services they offer
• Client reviews or testimonials
• Information about their experience and qualifications

What Happens in the First Consultation?

Your first meeting or call with an IP is usually free. During this chat, you’ll explain your situation, and the IP will help you understand what options are available.

We’ll ask some questions about your finances and your business to see what route might work best, whether that’s a rescue plan or starting formal insolvency procedures.

We know how confusing this can all be, so we explain everything in plain English. You can also ask us about timelines, costs, or what each option involves.

What Does It Cost to Work with an Insolvency Practitioner?

One of the first things people ask is, “How much will this cost?”. The answer depends on the type of service you need and how complex your case is. In general, fees can be:

• Fixed for simple services like advice sessions or setting up a voluntary arrangement
• Based on hourly rates, which vary depending on the case
• Calculated as a percentage of money or assets recovered during the process

Bigger or more complex cases usually cost more. But we always explain costs clearly from the start, so there are no surprises.

You’ll always receive honest, upfront information about costs when working with us. We will try to find a fair solution that works for you. If you’re worried about affording the service, talk to us; we may be able to offer a payment plan or other options.

What If I Can’t Afford an Insolvency Practitioner?

If you’re already in financial trouble, it might feel impossible to pay for professional help. But there are ways forward.

Charities like Citizens Advice or StepChange offer free debt advice and can help you understand your rights. Some government-backed solutions, such as a Debt Relief Order, may also be available for those with low income and few assets.

It’s important to speak to a licensed practitioner as early as possible, even if you don’t feel like you can afford their services.. We may be able to suggest low-cost options, reduce fees in certain situations, or help you access government support. The sooner you get help, the more choices you’ll have. And as an initial phone call is free, it’s always worth getting in touch.

Watch Out for Unregulated “Advisers”

Sadly, there are still many unlicensed companies pretending to offer insolvency help. These “middlemen” often charge large fees and then pass you to a real IP, or worse, offer advice that puts you in a worse position.

Signs to be cautious of include:

• No mention of licensing or professional body membership
• High upfront charges for general advice
• Pressure to sign up quickly without full details

Working with a licensed practitioner protects your rights. You’ll be dealing with someone trained, insured, and held to high professional standards.

Is It Better to Work with a Local Insolvency Practitioner?

Many insolvency services can now be handled remotely, especially with modern digital tools. However, there are still benefits to working with someone in your area.

A local IP might understand regional issues affecting your business, and they’re easier to meet in person if needed. Face-to-face meetings can be helpful when discussing sensitive matters or reviewing documents.

Common Questions

Can I choose my own insolvency practitioner?

Yes. You are free to appoint whichever licensed IP you prefer.

How long does the process take?

Some procedures are quick (such as a CVA setup), while others — like liquidation — may take several months. We’ll explain what to expect in your first consultation.

Will everything be kept private?

Yes. We treat all client information with strict confidentiality.

What if I don’t understand the legal terms?

Don’t worry — that’s our job. We’ll break everything down and explain what it means in simple language.

Let’s Talk — We’re Ready to Help

If you’re worried about debts or think your business may be insolvent, don’t wait. The sooner you speak to a professional, the more options you’ll have.

Our goal is to help you move forward with confidence, through expert advice and a thoughtful, personal approach. We’ll talk you through your choices, help you understand your duties, and make sure you’re supported at every step.

Reach out today for a free, no-obligation chat with one of our licensed insolvency practitioners. You don’t have to face this alone.