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Anyone can find themselves in financial trouble.

You’re not alone.

We know, from experience, it’s an extremely difficult and stressful time.

We also know that  there are options available to you.

We’re here to help.

We’ve helped many people in your situation.

Things will get better. The first step is to act quickly.

mlm Solutions is a financial recovery, restructuring and debt advisory boutique committed to an innovative, solutions-based approach to assisting individuals and small businesses address their financial challenges.

Contact our trusted experts to find a solution today.

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Completed your self-assessment tax return and unable to pay your bill?

Charles can help

0208 108 2284

Or simply complete our online solutions form below

Are you in Scotland?


Completed your self-assessment tax return and unable to pay your bill?

Nikki can help

0141 530 6762

Or simply complete our online solutions form below

The Creditors' Guides to Fees provide explanations of creditors' rights with regard to insolvency practitioners' fees. They explain how an insolvency practitioner seeks approval of his fees, what information a creditor can expect to receive, and what a creditor can do if he is dissatisfied with the level of a practitioner’s fees.

As required in Statement of Insolvency Practice 9 the link below can be used by creditors to access suitable explanatory notes setting out their rights.

IPA - Creditors’ Guides to Fees

What is LPA Receivership?

The property market is at the heart of the UK economy and, as we have seen recently, during periods of financial austerity commercial and domestic borrowers can experience difficulties in meeting the terms of their loans. In a depressed property market lenders will review the enforcement options available to them under their mortgage or charge.

Lenders will always look to protect their interest where they have provided mortgages to borrowers to purchase properties. When a mortgage is provided, the borrower will agree to the lender's terms and conditions, and the lender will register a charge against the property in their favour. If a borrower breaches the terms of the mortgage, this can jeopardise the lender's interest in the property. Where lenders do not want to take the risk and cost of day-to-day involvement with the property an LPA receiver will be a quick and effective solution.

LPA receivers have a primary duty to the lender. The appointment of receivers removes the responsibility of dealing with the property from the lender as the receivers will assume control and ultimately sell the mortgaged property. In some cases it may be important to take the management of the property and the rental income out of the hands of a defaulting borrower to safeguard the lender's position and maximise the return.

When to consider LPA Receivership

Lenders will always look to protect their interest and when a borrower breaches the terms of their mortgage, it can jeopardise the lender’s interest in the property. Where lenders do not want to take the risk and cost of day-to-day involvement with the property an LPA receiver will be a quick and effective solution.

Next steps

When appointed as LPA receiver we appreciate that our primary duty is to the lender in securing the repayment of the secured debt. We understand our requirement to act in good faith and use our powers for proper purposes.

LPA Receivership Advice London and England 

For further information on LPA Receivership near you, contact us today.



What is court winding up?

If a company has no prospect of avoiding liquidation and typically where the company has little or no assets available for creditors, the company can be wound-up by petitioning the Court, and placed into compulsory liquidation. The petition can be presented by the directors of the company, the company (Shareholders) or by a creditor of the company.

If presented on behalf of the company or its directors, a resolution for winding up must be passed. If the petition is on behalf of a creditor, the creditor must demonstrate to the court that the company is insolvent. Usually, the creditor will seek to show that the company cannot pay its debts as they fall due.

The petition will be advertised and, in due course, a winding up order will be made and an interim liquidator will be appointed.

When to consider winding up

The purpose of this procedure is to ensure that the business is closed, any assets of the company are realised for the benefit of the company's creditors and its affairs are brought to an orderly conclusion.

Next steps

Following their appointment the interim liquidator is responsible for winding-up the company the affairs of the company, safeguarding and realising the assets of the company for the benefit of the company's creditors, calling a meeting of the company's creditors to appoint a liquidator as well as considering and reporting to the Insolvency Service on the conduct of directors.

Court Winding Up Petitions (WUP) Glasgow & Edinburgh, Scotland

We understand that facing up to financial challenges can be extremely difficult and stressful. However, you should be reassured to know that there are options available and, with the right advice and support, you can take the necessary steps to improve your situation. 

For further information on compulsory liquidation and advice on winding up petitions (WUP) for your company, contact us today at an office near you.

What are Individual Voluntary Arrangements (IVA)? 

An Individual Voluntary Arrangement (IVA) is a statutory personal insolvency solution which allows a debtor to come to an arrangement with creditors to pay their debts in full or in part over time under the supervision of a licensed Insolvency Practitioner (‘IP’).

The IVA process requires a proposal, or offer document, to be drafted and sent to creditors. Debtors will normally consult an insolvency practitioner who becomes the intended ‘nominee’ and assists with the drafting of the formal proposal to creditors. In some cases where protection from legal proceedings is required the Court will be involved in the process of setting up an IVA but usually that will not be necessary.

The nominee will prepare a report to the debtor’s creditors (and the court if involved) as to whether the proposal is likely to be acceptable and viable.If appropriate, the nominee will then convene a creditors’ meeting and the debtor’s proposals will be considered by creditors. If the proposal is accepted at the meeting, which it may be with modifications put forward by creditors, the nominee will become supervisor of the IVA and oversee its implementation. Any agreement reached with the creditors will be legally binding. A majority of 75% of creditors by value of those creditors who actually vote is required to approve an IVA and any modifications proposed.

A voluntary arrangement with creditors offers flexibility for both debtors and creditors alike and is particularly useful for debtors who are self-employed, running businesses and also professionals. It may include assets not normally available in bankruptcy, for example, the use of third party funds or income from the debtor's continued trading or employment. It gives the debtor more say in how his/her assets are dealt with, for instance, creditors may allow the debtor to exclude and retain certain assets such as his/her home.

When to consider Individual Voluntary Arrangements (IVA)

An IVA can be for individuals, unincorporated businesses, sole traders, directors or professionals who have assets or an income which will allow them to make an asset based offer and/or payments, at an agreed level, to creditors.

It is a particularly appropriate option for a person who does not want the stigma and professional consequences of bankruptcy, such as restrictions on acting as a company director or the suspension of a solicitor’s practising certificate.

Next steps

mlm Solutions has the knowledge and expertise to provide full support across the three stages of an IVA: advice, nominee and supervisor.

After evaluating and discussing your financial situation (including reviewing assets, debts, income and expenditure) our insolvency practitioner will determine an affordable contribution level and timeframe within which repayments should be made (generally around 5 years).

We will produce a formal proposal to be submitted to the creditors which they will consider and vote on at their creditors meeting, to be held within a few weeks. The proposal will:

  • explain why the debtor considers that the voluntary arrangement is desirable;
  • give reasons why creditors may be expected to concur with the arrangement; and
  • provide details of the debtor’s assets and liabilities.

As nominee we will prepare a report on the proposal, chair the meeting of creditors and report on the result of the meeting.

Where a creditors’ meeting approves the proposal it takes effect from the date of the meeting and binds every person who had notice of it and was entitled to vote, whether they were present or not, or would have been entitled to vote if they had had notice of the meeting.

Once approved, the Supervisor ensures that the IVA is implemented as approved, will report on progress and make distributions to creditors from time to time. Details of the IVA must be entered on the Individual Insolvency register maintained by the Secretary of State.

For English debt help, see also:-

You may also be interested in considering the following related pages if you live in England:-

Individual Voluntary Agreements (IVA) Advice in Glasgow, Edinburgh & London

For further information on Individual Voluntary Agreements (IVA) for your company, please contact us today.

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