We are the only FCA regulated not for profit organisation offering this unique and much needed 2nd tier IVA advice service.
We provide a trusted, independent layer of IVA technical expertise to clients and referral partner agencies before an Insolvency Practitioner needs to get involved. We believe that our specialist advice helps a client to better understand a complex IVA debt solution before committing to it.
Under a contractual service level agreement, we get the IVA case prepared and ready for a client's draft IVA proposal. We obtain all the required verification documents and send them securely via our secure systems to the selected Insolvency Practitioner. We make sure that the Insolvency Practitioner will understand all the background to the proposal to minimise duplication and to maximise the best outcome – an approved IVA!
“AIPS offers busy advice agencies the opportunity to make simple choice-based referrals to an independent not for profit organisation promoting the same charitable aims & objectives as yours.”
Why is AIPS needed?
How does AIPS work?
Once an IVA has been identified as a potentially appropriate debt solution, the client will need a 2nd tier layer of technical IVA advice to verify that an IVA proposal is viable. The advice sector used to have to refer the client direct to the Insolvency Practitioner meaning that a client no longer benefits from independent advice, and in some cases the Insolvency Practitioner is not FCA regulated. Due to the volume of IVA complaints, advisers have naturally become suspicious of IVA providers.
Money Advice Hub offers a unique and unrivalled service, we have specialist insolvency knowledge to assess the IVA, we are FCA regulated and as a not for profit organisation ourselves, we have the same charitable objectives and motives as charities and public sector organisations. We will never shoe horn a client into an IVA and on most occasions their confirmed IVA proposal is reduced from the initial referral we receive, this is because we 'stress test' the solution covering the expected IVA period.
We advise your client independently and if an IVA is not the appropriate solution, we will advise on other suitable options, currently we have 4 approved debt relief order intermediaries in our Money Advice Hub Team, we won''t hand your client back to you unless you want us to.
If we think the IVA proposal is may not accepted by creditors, we will discuss with our IP's first, if the IVA is the right solution for the client, we will do our best to get an IP to take the case, sometimes we do have to vie between them for clients.
When a client proceeds an IVA, they will always be given a choice of using AIPS or choosing their own IP. If they choose AIPS, we are able to initiate the first stages of the IVA process, gathering the full fact find, income and expenditure and verification documents. We support our clients during this process with free online tech tools to help them gather everything they need. In some cases, we will analyse and interpret business accounts and calculate a self-employed cash flow forecast.
Our customer feedback is excellent for this service and we have been able to get the most difficult IVA proposals through for clients, including 3 year terms for pension age clients and lump sum IVAs from limited 3rd party sources.
How long does it take?
Our trusted Insolvency Practitioners
No up front client fees
Other incentives for referral partners
- Local rate helpline with 24 hour message service
- Direct mobile
- Online portal and
- Direct emails for case managers
- Referral updates
- Outcomes data - bespoke to your needs
- IVA case studies
- Partner references for your grant applications
- Debtipedia ® free adviser resources
- Free Training
- Consultancy on potential IVAs
- Dedicated liaison