 The Good - The Bad - And The Ugly There has been no means to draw a distinction between the good, the bad and the ugly in the Debt Management Industry. BizHelp24 has successfully bridged the gap between the three and researched who to approach for effective insolvency advice.
The Ugly Any company that insists on upfront fees to save your business and settle your creditors demands will probably add to your worries. It is also likely that their main resource to resolve your problems involve a costly loan - in high interest and commissions to all other interested parties. Finance can be a solution to your business worries, however, the decision to take out a loan must be based on sound business planning and not because finance is the only option the 'ugly' firms can offer you.
The Bad The are several organisations that advertise in the National newspapers that pose as "specialists" advising that they have an answer to your financial problems. The "specialists" will offer services and assistance; but beware! Most of these "specialists" are intermediaries with no relevant qualifications and their advice could prove costly and inadequate.
A "specialist" solely registered under the Consumer Credit Act as a Debt Counsellor need not be qualified, and is not registered or accountable under the relevant insolvency legislation.
Particular care should be taken when considering any propositions which promote 'debt consolidation' or ' debtor-creditor arrangements ', sometimes with consultancy agreements stipulating fees which you are expected to guarantee.
The Good Always use a firm of Licensed Insolvency Practitioners or Business Recovery Professional who are qualified, regulated and accountable. The average person can rely on their advice when considering personal obligations under the 1986 Insolvency Act and any restructuring of businesses. A "specialist" solely registered under the Consumer Credit Act as a Debt Counsellor need not be qualified, and is not registered or accountable under the relevant insolvency legislation. Licensed Insolvency Practitioners pride themselves on providing a high quality service and produce innovative ideas to personal and business problems. There are no magical solutions to all financial problems but Licensed Insolvency Practitioners can work with the debtor to assess the situation and recommend the appropriate action which we are qualified to implement. If there are financial problems, there is everything to gain by facing the position early and seeking independent advice.
What We At BizHelp24 Recommend You need not pay any amount of money to get honest and helpful advice from a business and personal insolvency professional. A quality licensed practitioner should have YOUR needs as being paramount to the end goal - that is: your survivability as a business or individual. A long established insolvency practice will have long established connections, and certainly have the specific experience of your type of business and industry.
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