Published: 02/03/2021 By Andrew BaileyIs the thought of talking fees too daunting for some? Therefore they put off getting that all important early insolvency advice?
Insolvency Partner Andrew Bailey discusses the issue:
"I often get the impression that it does and it is important to discuss this concern. Firstly, many insolvency practitioners offer free initial calls and meetings and there is a genuine no obligation basis attached to that. Secondly, we often act with no requirement for upfront payment of fees from directors.
A director this week was surprised when I told him I did not want payment from him personally at this point for a Liquidation. I advised that I would prefer to review the position first. He was a significant creditor of his business already.
I will speak to anyone if they have financial difficulties. Some may need help from another source so I will send them that way, perhaps they may not need immediate help so I tell them to go away and think about options to avoid insolvency whilst others may need to engage in our services.
It is a complete mix but that is the nature of insolvency work. I am happy if I can help someone free of charge and happy when I am engaged. I hope people then realise that if I get an enquiry I will try not to steer them in the only direction whereby I can get paid.
People need to understand that they do not need to fear getting advice and that they will not be immediately asked for payment for doing so.
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