UK insolvency advice is of a very high standard, according to the results of the first year since the introduction of the Insolvency Practitioners’ Complaints Gateway.
The Gateway aims to make the process of lodging a complaint against an insolvency practitioner more transparent, and covers some 98% of all advisors in the UK.
It launched in June 2013, and in its first year handled some 900 complaints – nearly 200 more than the previous year, and a validation in its own right of the value of having a single point of entry for complaints.
But despite this increase, the total number of complaints made about the quality of UK insolvency advice is low, when compared with the tens of thousands of cases handled nationwide over the same period.
Graham Rumney, chief executive of insolvency trade body R3, pointed out the relative sizes of these two figures.
“It’s encouraging that … there have been, relatively, so few complaints made,” he said.
But he also looked to the future, and the potential for insolvency advice to improve still further.
“We look forward to working with the Insolvency Service to further develop the Gateway and other initiatives that will help creditors and debtors get a fairer deal from insolvency,” he said.