About Us
Financial Support Systems is a family run IVA company founded by Charles and Suzanna Elliott with a vision to revolutionise the IVA industry.
What makes Financial Support Systems different is our state-of-the-art technology to put the customer at the heart of the business. This has meant that our dynamically forward-thinking insolvency practitioners can ensure that each and every customer that comes on board will benefit from improved easy-to-understand communication, faster IVA approval times and a better overall experience throughout our customers IVA journey.
What makes us different?
We hold customer satisfaction paramount to our success and believe in transparency and honesty in what we know can be a very difficult time. Our advisors are offered full training with Ofqual accredited qualifications in Debt Advice and Mental Health and Vulnerable Persons Training produced by The Samaritans. We have also worked extensively with the University of Bristol and Colin Trend of the Money Advice Trust to help drive government led policies on how to treat customers in vulnerable situations when giving debt advice.
Treating customers with respect
We do not judge; every person is treated as an individual and with respect. Clear, confidential advice is given to everyone, no matter how big or small their debts are.
We have invested heavily in additional support for our more vulnerable customers and are able to go above and beyond in proving all help on a host of issues including but not limited to, family issues, housing problems, bereavement counselling, help with stress and anxiety, legal & tax information.
Your IVA is in safe hands
Financial Support Systems has an experienced team, who are highly trained to process your IVA application and then once approved, be on hand to provide you with support and guidance all the way through to completion of your IVA.
Our Insolvency Practitioners
Our Insolvency Practitioners are authorised and regulated by The ICAEW (The Institute of Chartered Accountants in England and Wales).
Pre-Approval IVA Support Team
Our pre-approval support team will assist you in conducting a review of your financial position to check that an IVA is appropriate for you and has a high chance of being accepted by your creditors. They will assist you in determining an affordable and sustainable payment offer.
Your IVA proposal will be then be drafted and prepared by a member of our team specifically trained and experienced in this role.
Once you have approved and signed your IVA proposal our creditors meeting people will arrange a meeting of your creditors to consider and vote for the approval of your IVA. Financial Support System regularly achieves in excess of a 95.35%* approval rate. Most non-approvals are as a result of an unforeseen change in circumstances of the applicant before the meeting.
*Based on our customers who proposed an IVA in January 2021 95.35% were accepted by creditors.
Post Approval Support Team
Once your IVA has been approved the Financial Support System post approval support team will work with you and your creditors to ensure a successful completion of your IVA. Insolvency case workers assigned to your IVA will monitor adherence by you and your creditors to the terms of your IVA and will support you through any changes or difficulties to ensure you reach a successful conclusion. They are also responsible for the annual review of your Income and Expenditure to ensure any changes to your circumstances are addressed, as well as reporting annually to you and your creditors on the performance of your arrangement. They will deal with any creditor contact during the life of the IVA.
If your circumstances change unexpectedly during the term of your IVA our Variations Officers are on hand to assist you with proposing a variation of your IVA to your creditors so that your IVA can continue, even if your payments need to be reduced from what was originally proposed.
As your IVA nears completion one of our team specifically trained in the formalities of concluding IVA’s will prepare the final report to be sent to you and your creditors. You will receive a completion certificate which confirms the successful completion of your IVA and instructs your creditors to update your credit file to show that your debts are now satisfied.
We recognise the importance of handling clients’ money and we ensure that our team members undertake this role in a fully compliant manner. Our client money officers agree the claims of your creditors, monitor and record the banking of all monies received from you and ensure that funds are distributed to your creditors as required by the terms of your IVA.
In order to further ensure that our high standards of work are maintained Financial Support System employs compliance officers whose role is to check and ensure that all staff are complying with both internal and external regulations, service and operational standards.
All our teams are there to support you in achieving the approval of your IVA and reaching a successful conclusion so you can become free of your debt.
Why people choose us
The staff are like financial Angel’s helping you with every step!
The service this company offers… changed my life! They were so kind and approachable and they helped me through every step, the staff in every department made my journey to a better financial future so smooth.. I can pay for the food shop now without a worry and I can help my daughter through uni, and I’ve slept soundly for the first time in years… thanks to the awsome people who helped me…
A financial weight was lifted.. it was the best thing I have ever done and I recommend it to anyone who has found themselves in a financial hole …
You can really trust these people… they wouldn’t steer you wrong…x
* Taken from independent verified Feefo reviews, for the full details of these please click here.