Frequently Asked Question
Happy to Answer All Your Questions
An Insolvency Practitioner is a licenced physical person who is appointed to act on behalf of a company as a liquidator, a receiver/administrator or an examiner and on behalf of a physical person as a bankruptcy administrator, a temporary receiver of his/her property or a repayment plan advisor.
The Insolvency Practitioner helps insolvent individuals and companies by preparing a debt restructuring plan (after being aware of the financial data of the debtor), so that the debt becomes viable.
In order for a physical or legal person to become a client of Revita, the interested party needs to sign an authorisation letter, which will authorise Revita to communicate with third parties concerning the case of the client (e.g. banks, governmental and tax authorities, creditors/debtors, etc.).
Also an engagement letter will have to be signed at inception, which will set the guidelines of the cooperation.
It is of great importance that the client will have an idea of the solution he/she wants to achieve, in order for the team of Revita to decide on the action plan to be implemented and follow it so that measurable, specific and timely results can be achieved.
There is an initial charge of €60 (including VAT) for the first consultation/meeting. Following that, an engagement letter is prepared covering various aspects of the cooperation. The fee aspect consists of an initial (set up studying the case) fee, an hourly rate charge and a success fee upon positive completion of the case.
We are offering our services to both physical (individuals) and legal persons (companies).
Households can be protected from foreclosure through the below options:
- A Personal Repayment Scheme
- A Debt Relief Order issued from Court
For further details on the above plans, please refer to the Insolvency Guide.
We can help your business by providing expert consultation and courses of action that can enhance its liquidity position and tidy up loose ends. Also we can prepare cash flows, ratio analysis and budgets to mark weak areas that require attention and/or improvement. We cannot however guarantee success. A lot depends on how early consultation is sought.
