{"id":3645,"date":"2014-01-23T09:44:10","date_gmt":"2014-01-23T09:44:10","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=3645"},"modified":"2020-10-20T15:44:59","modified_gmt":"2020-10-20T14:44:59","slug":"why-do-i-need-an-ip","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/why-do-i-need-an-ip\/","title":{"rendered":"Why do I need an Insolvency Practitioner?"},"content":{"rendered":"\n<p>If you are in the position of being unable to keep up with your financial commitments and are facing <strong>insolvency<\/strong> or <strong>bankruptcy<\/strong>, you may need to go through certain legal processes.<strong> Insolvency Practitioners<\/strong>\n are the only professionals who are licensed to carry out certain legal \nactivities within the UK. If your case involves these processes then you\n will indeed need to use the services of an <strong>IP<\/strong>.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Insolvency Practitioners specialise in all matters relating to \ninsolvency, for individuals and businesses who cannot keep up with their\n debts. There are a few options for people in these situations, but it \ncan be difficult to figure out which is best for you. An IP can advise \nyou as to what your best options are as well as carrying out the legal \nand administrative processes involved.<\/p>\n\n\n\n<p>When you see an IP, they will need access to information about your \nsituation. This will include details of all of your debts, as well as \nyour income and assets if applicable. This will allow them not only to \nadvise you how best to move forward, but also make sure any measures \nthat they implement on your behalf are going to be effective.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><img loading=\"lazy\" decoding=\"async\" width=\"305\" height=\"393\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_25215540_XS.jpg\" alt=\"\" class=\"wp-image-3658\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_25215540_XS.jpg 305w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/03\/Fotolia_25215540_XS-233x300.jpg 233w\" sizes=\"auto, (max-width: 305px) 100vw, 305px\" \/><\/figure><\/div>\n\n\n\n<p>An IP can help you to use the law to best protect yourself, something\n that is really invaluable if you\u2019re being pursued by lenders. Some of \nthe measures that IPs can help you to use, such as Individual Voluntary \nArrangements, afford you a basic level of legal protection from your \ncreditors actions.<\/p>\n\n\n\n<p>The fact that you need an Insolvency Practitioner in certain \nsituations is mainly to protect your interests. As well as helping you \nto get your debts in hand, an IP is able to mediate between you and your\n creditors, and is obliged to protect your interests.<\/p>\n\n\n\n<p>For example, if you propose an IVA, and your creditors accept it, \nthey are prevented from being able to take further legal action against \nyou regarding the relevant debts. This gives you the ability to really \nwork toward being free from the debts that you may currently feel are \nout-with your control.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insolvency Practitioners  are the only professionals who are licensed to carry out certain legal  activities within the UK. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[6],"tags":[],"class_list":["post-3645","post","type-post","status-publish","format-standard","hentry","category-general-debt-articles"],"_links":{"self":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/comments?post=3645"}],"version-history":[{"count":3,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3645\/revisions"}],"predecessor-version":[{"id":13527,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3645\/revisions\/13527"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=3645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=3645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=3645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}