Support group to help borrowers with insolvency deals
THE group founded by lawyers and business people to help those facing repossession of their homes has promised to help distressed borrowers through the new insolvency process.
New Beginning said it would not charge an up-front fee for providing the services of a personal insolvency practitioner (PIPs) to those seeking a deal through the new Insolvency Service.
Vincent P Martin, founder of New Beginning, called on all PIPs to avoid imposing up-front fees.
"New Beginning PIPs do not intend to charge up-front fees for the vast majority of cases," Mr Martin said.
"Only in exceptional circumstances where a deal is particularly complicated to negotiate, or where a client has an ability to pay, will New Beginning seek payment in advance.
"New Beginning believes it would be better if PIPs do not charge clients up-front as a matter of general policy on grounds that borrowers are already in difficulty," the barrister said.