What is an Insolvency Practitioner?
An Insolvency Practitioner or IP for short is an individual who is authorized to act as an office holder under the Insolvency Act of 1986. An Insolvency Practitioner is one who can handle all formal insolvency procedures and has extensive experience on how to handle insolvency issues. To be an Insolvency Practitioner, one must be able to study and pass insolvency examinations. They must be able to maintain their knowledge and continue learning by attending accredited professional development programmes.
As an Insolvency Practitioner, you must have an extensive knowledge on how to handle insolvency issues and advise on personal, companies or partnerships that are currently experiencing insolvency problems. You must also be able to act upon and give expert advice to your clients because as an Insolvency Practitioners you are assigned to monitor the financial standing of your client. You must be focused and give an unbiased and honest advice to help resolve the insolvency difficulties being experienced by your client.