Become an Introducer Today!

Personal debt? Visit our dedicated debt help site >>

Members Voluntary Liquidation

Liquidation Home
Compulsary Liquidation
Creditors Voluntary Liquidation
Members Voluntary Liquidation

Typical Referral Fee £360

A Members' Voluntary Liquidation "MVL" is a voluntary procedure to wind up the affairs of a solvent company.

Solvent, what does this mean?

A company is capable of paying its liabilities in full plus statutory interest plus the costs involved in winding up, within 12 months.

When is the MVL procedure appropriate?

When a solvent company has come to the end of its useful life and needs to be wound up. For example:-

Shareholders want to retire and have a property within the company which they want to transfer into their personal names. i.e. a distribution in specie. Rationalisation of a group of companies involving transfer of assets, write off of inter-company loans and winding-up of subsidiaries.

Assessing clients income and expenditure

There is no sense proposing an IVA or a debt management plan which your clients can't afford. We will check their income and expenditure by reference to bank statements and wage slips and referring to the British Banking Association guidelines, a copy of which can be downloaded by clicking here.

Creditors do appreciate that people live at different levels; our role is to make sure we properly manage your client's expectations on what is reasonable.

In addition to the client's salary, there may well be an additional income from a third party. This may be in the form of child maintenance, contributions from a parent or partner, board and lodgings from a third party, tax credits, child benefit, etc. Including an additional income should not pose any problem providing that written consent is obtained from the third party.

Future Financing Opportunities

We take a practical approach and are keen to get your clients back on their financial feet as quickly as possible. An IVA of debt management plan can be settled early by remortgaging and offering a lump sum. You retain your relationship with your client and we will ensure your client is referred back to you for assistance seeks your help with raising finance.