Why Choose Exodus Insolvency?

Are you considering liquidation for your struggling business but are unsure of who to work with during this difficult time? 

Exodus Insolvency understand you need to trust the liquidator you are working with to ensure the process is as pain-free as possible. 

In this article, we can help you understand why Exodus differs to other Insolvency Firms and why we might be the best fit for you and your business by discussing the differences that may arise between insolvency practitioners and what reasons you should choose one over the other.

We Are Regulated 

The two main types of insolvency practitioners are licensed insolvency practitioners and unlicensed insolvency practitioners. Licensed insolvency practitioners are authorized by a recognized professional body to act as administrators, liquidators, and trustees in bankruptcy. Unlicensed insolvency practitioners are not authorized by a professional body but may have relevant experience and qualifications in accounting, law, or finance.

One of the main differences between licensed and unlicensed insolvency practitioners is their regulatory oversight. Licensed insolvency practitioners are subject to strict regulatory and ethical codes set by their professional bodies, such as the Insolvency Practitioners Association (IPA). These bodies ensure that licensed IPs maintain the highest professional standards and comply with legal and ethical requirements. Unlicensed IPs, on the other hand, are not subject to the same regulatory oversight and may not be held to the same professional standards.

Exodus Insolvency have a team of Licensed Insolvency Practitioners to ensure the best quality service for you and your business. 

We are experienced.  

Another difference between insolvency practitioners is their level of experience. Some practitioners may have more experience than others in dealing with specific types of insolvency cases. For example, some may specialize in corporate insolvency, while others may have more experience in personal insolvency. It is important to choose an insolvency practitioner who has experience in dealing with the specific type of insolvency that your company is facing.

Exodus Insolvency have a wide range of professionals on our team that are experienced across many different areas and industries, meaning you will always be dealing with someone that is best suited to you and your business. 

Our fees are transparent. 

Another difference that can arise between insolvency practitioners is their fees. The fees charged by insolvency practitioners can vary significantly, and it is important to choose a practitioner whose fees are reasonable and transparent. Some practitioners may charge a flat fee, while others may charge an hourly rate. 

The team at Exodus ensure you are happy and understand the fees involved before signing up to any services. With no hidden fees or costs, we ensure our fees are clearly outlined from the beginning and we do our best to work within your budget.

We communicate with you. 

At Exodus, communication is a vital aspect for our team, and we understand that is a main factor to consider when choosing an insolvency practitioner. Some practitioners may be more communicative than others and may be more willing to keep you updated throughout the insolvency process. Any insolvency process can be very stressful therefore it is important to choose a practitioner who is responsive to your calls and emails and who is willing to answer any questions that you may have – like Exodus.

We have a track record of success.

The reputation of the insolvency practitioner is also important. You should choose a practitioner who has a good reputation in the industry and who has a track record of success. 

Across the UK and Ireland, we have helped many businesses successfully avoid formal insolvency proceedings, as well as helped hundreds of businesses wind-up their businesses and move forward seamlessly. 

In conclusion, there are several differences that can arise between insolvency practitioners, and it is important to choose the right practitioner for your needs. Factors to consider include their level of experience, fees, communication skills, reputation, and licensing. By choosing the right insolvency practitioner, you can ensure that your company’s financial affairs are managed in a professional and effective manner.