Insolbaltika

Bankruptcy and debt settlement advice for England and Wales

Insolbaltika operates as a trading name of Tower Consulting Services Limited, a company incorporated in England in November 2005 and registered under company number 5629427. Its activity centres on practical debt solutions for people in financial difficulty and for businesses, with a stated geographic focus on England and Wales. The firm presents itself as having spent 19 years helping UK businesses and consumers resolve debt problems, and its director is identified as Andriy Smolenko.

The service is authorised and regulated by the Financial Conduct Authority under reference number 690176, a status the company discloses alongside its legal information.

How the initial review works

The process begins with a review of the client's financial position, covering income and expenditure, creditors, business interests, finances, investments, properties and other relevant factors. On that basis the firm provides information and advice on the debt resolution options available in England and Wales, including bankruptcy proceedings. The initial financial review and the initial consultation by telephone are offered without charge, and the company advertises a free 30-minute consultation. Fees become payable only if the client decides to proceed with the bankruptcy assistance service.

A 14-day cooling-off period applies from the start of the service; if the client cancels within that window, fees already paid for the service are refunded.

Bankruptcy assistance in detail

For clients who petition for their own bankruptcy, the firm's stated scope of work includes:

• Preparing documents and completing the forms required for a debtor's own bankruptcy petition.
• Assisting with the statements that accompany the petition when the Adjudicator requires them.
• Providing information on the EC Regulation on Insolvency Proceedings where applicable.
• Ongoing support related to the bankruptcy for one calendar year from the date of the bankruptcy order, delivered by telephone and email.
• Assistance in dealing with creditors throughout the 12-month bankruptcy proceedings.
• Assistance in dealing with the Official Receiver and the Trustee in Bankruptcy during those 12 months.

Negotiation with creditors

Beyond the formal bankruptcy procedure, the firm describes negotiation work with banks, credit card companies, debt collectors, bailiffs, government departments, local authorities, utility companies and other creditors. This negotiation activity is presented as part of its record of helping clients reach agreements with creditors.

Business debt and Bounce Back Loans

The company's blog addresses company debt as well as personal insolvency. Recent posts listed on the site cover the settlement of a Bounce Back Loan debt presented as a success story, what to do when a Bounce Back Loan cannot be repaid, custodial sentences handed to a plumber and to company directors for Bounce Back Loan breaches, the risks involved when a business with debts is sold, and whether a loan taken from an English bank and lost at a casino can be written off. Several of these posts are published in Russian.

Client feedback and published warnings

The site refers visitors to client stories and testimonials and links to Trustpilot reviews, without stating an aggregate score in the material reviewed. It also sets out the consequences of bankruptcy in plain terms: property and assets may be at risk and the credit rating is severely affected for six years. For further reading it points to the Insolvency Service's booklet "Guide to bankruptcy" and its guide on options for dealing with debts, and it notes that free debt counselling, debt adjusting and credit information services are available through Money Helpers.