James Kaye
Licensed insolvency practitioner
- IP number
- 9373
- Licensed by
- ICAEW
- Director of NTF Financial Solutions Limited
- Since 6 March 2009
Insolvency Service register (opens in a new tab)ICAEW directory (opens in a new tab)
IVA and bankruptcy advice from NTF Financial Solutions
Our licensed insolvency practitioners explain how an IVA or bankruptcy would work for you, and set up and supervise IVAs in England and Wales.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected. How fees and risks work
Lines open Monday to Friday, 9am to 5pm.
Our licensed insolvency practitioners are James Kaye (IP number 9373, Insolvency Service register entry (opens in a new tab)) and Nick Morgan (IP number 9078, Insolvency Service register entry (opens in a new tab)), licensed by the ICAEW.
Personal or sole-trader debtIVAs, bankruptcy and the other options for people, sole traders and partners in England and Wales.Compare your options
A limited company in debt
Company insolvency, such as liquidation, administration and company voluntary arrangements, is handled by NTF Corporate Solutions.
Go to NTF Corporate SolutionsNTF Corporate Solutions Limited is part of the NTF group and run by the same two practitioners, so the group benefits from any work it takes on.
Which debt solution could fit your situation?
The solution that fits depends on how much you owe, your income, whether you own your home and what you can afford to pay. In England and Wales the formal options are an Individual Voluntary Arrangement (IVA), bankruptcy and a debt relief order; a debt management plan is an informal agreement, and Breathing Space gives you time to get advice.
We can set up and supervise an IVA, and explain whether bankruptcy might suit you better. We can't arrange a debt relief order, a debt management plan or Breathing Space, because each needs an adviser with a permission we don't hold. Free debt advice organisations can help you with all three.
Free, independent debt advice
GOV.UK lists organisations that give “free, confidential and independent advice on dealing with debt problems”.
Find free debt advice on GOV.UK (opens in a new tab)These services are independent of NTF Financial Solutions.
How does an IVA work with NTF?
An IVA with us works in five stages: you talk to one of our licensed insolvency practitioners, we prepare a proposal to your creditors, they vote on it, you make monthly payments that we supervise, and when the IVA ends you no longer owe the debts it includes.
You talk to a licensed practitioner
James or Nick goes through your income, debts and assets with you and explains your options, the fees and the risks before you decide anything.
We prepare your proposal
If an IVA suits you, your practitioner acts as nominee (opens in a new tab): they draw up a proposal showing what you can afford to pay and report on it to your creditors.
Your creditors vote
The proposal is approved if three quarters or more, by value, of the creditors who respond (opens in a new tab) vote for it. It then binds every creditor (opens in a new tab) who was entitled to vote.
You make one monthly payment
A protocol IVA, one that follows the Insolvency Service's standard terms, usually runs for 60 months, or 72 if your share of your home is worth £10,000 or more (opens in a new tab). Your practitioner, now the supervisor, shares each payment between your creditors.
Your IVA ends
When you have made all the agreed payments you receive a certificate of completion, and you no longer owe any of the debts the IVA includes (opens in a new tab).
Who are our licensed insolvency practitioners?
Our licensed insolvency practitioners are James Kaye (IP number 9373) and Nick Morgan (IP number 9078). Both hold insolvency licences from the ICAEW (opens in a new tab), and both are directors of NTF Financial Solutions Limited (opens in a new tab), company number 06619172.
Nick Morgan
Licensed insolvency practitioner
- IP number
- 9078
- Licensed by
- ICAEW
- Director of NTF Financial Solutions Limited
- Since 19 October 2008
Insolvency Service register (opens in a new tab)ICAEW directory (opens in a new tab)
The Insolvency Service register lists both practitioners under NTF Corporate Solutions Limited, which is part of the NTF group and run by the same two practitioners. More about NTF Financial Solutions
What does an IVA cost?
In a protocol IVA you pay one agreed monthly amount, and the practitioner's fees are included in your monthly payments, not charged upfront (opens in a new tab). They must be explained to you before you agree to the IVA.
More of your early payments go towards the fees, so your creditors receive a smaller share at first, and if an IVA ends early you may have repaid less of your debt than you expected.
Bankruptcy costs £680 to apply for online (opens in a new tab), which you can pay in instalments before you submit the application. If a bankruptcy order is made, the official receiver's administration fee of £2,390 (opens in a new tab) is taken from the money raised from your assets.
What are the risks of an IVA?
An IVA stays on your credit file for six years from the day it starts, it can be cancelled if you miss payments, and if it fails your creditors can chase you for the debts again or ask the court to make you bankrupt.
- Your IVA is on the public Individual Insolvency Register while it lasts and for three months after it ends.
- If your share of your home is worth £10,000 or more, a protocol IVA usually lasts a year longer.
- If the IVA is cancelled, your creditors can claim the interest and charges that were frozen (opens in a new tab) while it ran.
- Your supervisor, or a creditor bound by the IVA, can ask the court to make you bankrupt (opens in a new tab) if it fails.
Is your limited company in debt?
If your limited company owes the money, the debts usually belong to the company itself, and NTF Corporate Solutions helps directors with company insolvency such as liquidation, administration and company voluntary arrangements. NTF Corporate Solutions Limited is part of the NTF group and run by the same two practitioners, so the group benefits from any work it takes on.
Directors can still be personally liable (opens in a new tab), for example under a personal guarantee or for an overdrawn director's loan account. When directors are personally liable for company debts explains the personal side.
If you are a sole trader or a partner, your business debts are your own (opens in a new tab), so an IVA or bankruptcy can deal with them. See debt options for the self-employed and sole traders.
Sources
The legislation, court decisions and official guidance this page relies on. We last checked the page against them on .
- Key facts: protocol individual voluntary arrangements (IVA) (opens in a new tab): how IVA fees are paid, the credit file, the register, completion and cancellation (The Insolvency Service, GOV.UK)
- IVA Protocol 2025 (opens in a new tab): how long protocol IVAs are proposed for and how a family home is treated (The Insolvency Service, GOV.UK)
- Insolvency Act 1986, section 253 (opens in a new tab): an IVA proposal and its nominee, who must be qualified to act as an insolvency practitioner (legislation.gov.uk)
- Insolvency (England and Wales) Rules 2016, rule 15.34 (opens in a new tab): the creditor vote that approves an IVA (legislation.gov.uk)
- Insolvency Act 1986, section 260 (opens in a new tab): an approved IVA binds every creditor entitled to vote (legislation.gov.uk)
Show all 21 sourcesShow fewer sources
- Insolvency Act 1986, section 264 (opens in a new tab): who can petition for bankruptcy, including an IVA supervisor or a creditor bound by the IVA (legislation.gov.uk)
- Insolvency Act 1986, section 279 (opens in a new tab): discharge from bankruptcy after one year (legislation.gov.uk)
- Insolvency Act 1986, section 281 (opens in a new tab): discharge releases a bankrupt from the bankruptcy debts, with exceptions (legislation.gov.uk)
- Apply for bankruptcy (opens in a new tab): the £680 online application, payable in instalments (GOV.UK)
- The Insolvency Proceedings (Fees) (Amendment) Order 2024 (opens in a new tab): the official receiver's £2,390 administration fee from 9 January 2025 (legislation.gov.uk)
- Options for dealing with your debts: Debt Relief Orders (opens in a new tab): who can get a DRO, what it does for 12 months and applying through an approved debt adviser (GOV.UK)
- The Insolvency Proceedings (Monetary Limits) (Amendment) Order 2024 (opens in a new tab): the £50,000 DRO debt limit for applications from 28 June 2024 (legislation.gov.uk)
- The Insolvency Proceedings (Monetary Limits) (Amendment) Order 2021 (opens in a new tab): the £75 monthly surplus income and £2,000 property limits for a DRO (legislation.gov.uk)
- Options for dealing with your debts: Debt Management Plans (opens in a new tab): how a debt management plan works and who arranges one (GOV.UK)
- Options for dealing with your debts: Breathing Space (opens in a new tab): what Breathing Space protects you from, for up to 60 days (GOV.UK)
- The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020, regulation 3 (opens in a new tab): who can start a Breathing Space: a debt advice provider authorised by the FCA, or a local authority (legislation.gov.uk)
- Find an insolvency practitioner: James Kaye (9373) (opens in a new tab): James Kaye's insolvency licence and authorising body (The Insolvency Service, GOV.UK)
- Find an insolvency practitioner: Nicholas Morgan (9078) (opens in a new tab): Nick Morgan's insolvency licence and authorising body (The Insolvency Service, GOV.UK)
- NTF Financial Solutions Limited (06619172): officers (opens in a new tab): the practitioners' appointments as directors (Companies House)
- Director information hub: the difference between personal and company debts (opens in a new tab): when a director is personally responsible for a company's debts (GOV.UK)
- Set up as a sole trader (opens in a new tab): a sole trader is personally responsible for the business's debts (GOV.UK)
Talk to a licensed insolvency practitioner
Speak to a licensed insolvency practitioner, who will explain your options in plain English. The call is confidential.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected. How fees and risks work
We help people across England and Wales.