Press release 17th July 2009

Sandra McAlister has been elected president of the Association of Chartered Certified Accountants (ACCA) Swansea and West Wales members network.

Sandra has been a member of the ACCA since graduating with her qualification in 2002. In 2005 Sandra qualified as an Insolvency Practitioner and later established McAlister & Co Insolvency Practitioners Ltd.

Sandra takes over the role from Garry Astley and said “I am very grateful to the members for the opportunity to take on the presidency and I look forward to assisting in its development. These are challenging economic conditions for companies in West Wales but I feel passionately that the accountancy profession has a vital part to play in helping to steady the course of the local economy and ensuring the future viability of our businesses. ACCA has an excellent track record in developing people of ability throughout West Wales and the network is central to that task”.

Ben Cottham head of ACCA Wales said: “Sandra’s appointment is yet another positive step in the progression of ACCA in West Wales. Her expertise and leadership will be vital in taking the network forward in serving the interests of our members and students and helping to ensure that ACCA engages with businesses and organisations across the region.”

Time to Act

Just like the corporate sector the individual’s emotional burden of financial difficulty is a problem many do not face until their situation becomes desperate. Faced with county court judgements, the bailiffs, repossession of goods or ultimately, a Bankruptcy petition, the future can look bleak. In essence, there are four options available:

• Ignoring the problems and taking no action until it is really too late
• Negotiating reduced payments with creditors for a short period
• Court Administration order – less than 3 creditors and under £5000 of debt.
• Apply direct to your local county court
• Formally agreeing an Individual Voluntary Arrangement
• Applying for Bankruptcy

Clearly, ignoring the debt is not a viable answer. Indeed, negotiating reduced payments with creditors is only a short-term arrangement and does not have the support of the Courts, nor does it prevent interest accruing on the debt.

An Individual Voluntary Arrangement (IVA) avoids the stigma of Bankruptcy and is a powerful tool in dealing with personal debts.

In certain cases Bankruptcy may be a more appropriate measure, although individuals are advised to seek independent, professional advice before taking this route.

We accept appointments in Individual Voluntary Arrangements and Bankruptcy and will assist with informal negotiations with creditors.

In any event we will always encourage our individual clients to take immediate positive action.

Apply online

In the first instance call us 01792 459 600