Expand your portfolio of services & partner with Financial Support Systems
Introducer Support
Whenever one of your clients finds themselves facing personal financial difficulties you can call on Financial Support Systems Insolvency Practitioners to assist. We are happy to assist in the background by providing a bespoke and tailored advisory service for you and your clients on managing personal debts.
As Insolvency Practitioners we have years of experience in assisting sole traders, company directors and sub contractors, providing professional and practical advice that takes account of the most up to date regulatory changes.
Our Services
We provide advice and information on Individual Voluntary Arrangements and their suitability as an option for dealing with unmanageable debts. Any alternative options that may be available will also be provided, following an initial fact find where the client qualifies for an IVA and wishes to pursue it.
On receipt of a referral we will
- Analyse and assess your client’s financial position and personal requirements.
- Provide guidance and information on the suitability of an IVA and discuss the benefits and considerations as an option for resolving their personal financial difficulties.
- If a client qualifies and following engagement with us, we will provide advice and information on all alternative solutions to ensure your client is fully informed and able to make an informed decision on how to move forward.
- Where it is necessary; we will assist them in the preparation and proposal of a repayment plan with creditors known as an IVA .
Benefits to you and your client
Your clients will be provided with an additional professional service without you having to incur the costs of providing this in house.
Although we specialise in personal Insolvency and in particular the proposing and administering of Individual Voluntary Arrangements, we are regulated and trained to provide advice and information on all suitable options once it is determined that a client qualifies for an IVA and is engaged with us, ensuring they have all the facts.
You can be confident that your clients will be advised how best to rescue their personal situation so that they can continue trading/working and you will continue your professional relationship with them.
Client Costs
Our services always begin with a consultation. When it is agreed that we should be retained to assist on a long term basis by preparing and presenting a repayment proposal to creditors, we will agree our fees and terms of engagement. No charges will become payable unless an Arrangement to repay creditors is entered and approved.
In our engagement it is often necessary for us to instruct accountants to prepare financial information regarding the clients business and earnings. In these instances we always ensure we instruct the client’s accountant to carry out this work where possible, and endeavor to ensure the client remains your client following engagement with us.
Why partner with Financial Support Systems?
Our Insolvency practitioners are licensed so you can be sure you are dealing with a professional and regulated service provider.
We understand that your referrals are your customers and that we are providing a service to you in assisting them with debt difficulties.
We work hard to adapt our business and its processes to accommodate any individual or introducer’s requirements and we understand that each person’s circumstances and goals are different from the next.
Important Information
Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on successful completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release equity in their property, subject to certain criteria. If unable to release equity and equity is available an additional 12 months payments may be requested in compensation.
Financial Support Systems provides insolvency solutions to individuals, specialising in IVAs. We do not administer or provide advice relating to debt management products, such as Debt Management Plans. Advice and information on alternative options will be provided following an initial fact find where the individual(s) concerned meets the criteria for an IVA and wishes to pursue it further, as governed by our Insolvency Practitioners' regulators, the Institute of Chartered Accountants in England and Wales. All advice given on any alternative options is therefore provided in reasonable contemplation of an insolvency appointment.
The Money Advice Service is a free service set up by the Government to help people make the most of their money. If you would like to learn more click here.
The Association of Business Recovery Professional, known as R3, produce a booklet called "Dealing with money worries - A guide to your options". This is a very helpful summary of the various options for dealing with debt and a copy can be found at the following link. Please also see link to 'Voluntary Arrangements - A Guide for Creditors on Insolvency Practitioner Fees'.