Statutory or Financial Requirements for Enforcement Agencies

Enforcement agencies should ensure that audited accounts are available, where required by law. An annual audit of the agency’s accounts by independent accountants should be undertaken at least once a year for businesses where this is appropriate.

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Statutory or Financial Requirements for Enforcement Agencies

 Enforcement agencies must comply with statutory obligations, for example, the Companies Act, HMRC provisions, Data Protection, Health & Safety etc.

  A separate account for monies due to the creditor should be maintained and accurate books and accounts should be kept and made available to establish monies owed to the creditor

  Enforcement agencies must keep a complete record of all financial transactions in whatever capacity undertaken.

  Enforcement agencies must maintain suitable and comprehensive insurance cover for both professional indemnity and other risks including employer’s liability and public liability.

Bailiff – Frequently Asked Questions

How does IVA Calculator work?

  1. Based on the details you provided, IVA calculator will determine whether you qualify for IVA or not.
  2. It will also calculate the amount of debt you can write off with an Individual Voluntary Arrangement – IVA.
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Basic criteria to qualify for IVA

  1. Your total unsecured debts are £5,000 or more.
  2. You have 2 or more creditors.

It is possible that some other debt solution is best for you, to know call our 24hr helpline 0800 088 2599

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