They would do and what they wouldn’t do. Other questions around real estate. So who can appoint the receiver?
Another question they asked. There are quite a lot of mixed answers, actually on the Internet, I just want to cover one of them to make sure that there’s no confusion. So one of the major issues with the receivership is that a lot of people get confused between LPA receivers, which is the Law of Property Act 1925 and the other bit where people made bankrupt and then trustees are appointed, an official receiver is appointed, and that is a different type of receivership from Law of Property Act 1925 receivers, just to make it very clear.
That’s a very important point. So I’ve got, like a written statement here on Google about what is the difference?
This is a quick look. So a liquidator is the person who winds up a company. A receiver is the person who sells particular company assets on behalf of a lender. Where a loan is secured in the company’s entire business. A receiver manager can be appointed as manager of the business during the receivership. It all sounds very confusing. I know. So to make it clear from my understanding, the way to draw a line is that somebody’s been made bankrupt and a receiver is appointed that is called those receivers are typically trustees and bankruptcy, or something called the official receiver, which is a government body.
Somebody acts for a government body primarily within the Department of used to be called Trade and Industry before I think they’ve changed it to something called Burner, another state Department. But within that they have the rights to appoint a local receiver from the government. If it’s a small case, if it’s a bigger case over a certain amount of money, it’s more complicated, then they appoint something called trustee and Bankruptcy, which is usually insolvency firm, which goes in and actually then collects all the dues and sells all the assets and manages the whole bankruptcy affair to actually pay off all the people that have lent money to that individual company.
So hopefully all that helps in giving some clarity. I want to try and pick some easier questions to make it easier. So people understand all the ways around these types of things. So one of the main questions is that because there are lots of questions on the Internet, it’s going to get quite confusing about what question relates to what type of receivership. So we’re going to stick to LPA receiver and focus on that. So what’s interesting, the really interesting part of the Internet is that there’s a lot of stuff that we can do now to show you results of really what happened when you type in certain keywords.
So if you typed in, let’s type in some keywords into Google, something like stock repossession, negative key. You typed in those keywords into Google. What happened is that you get 5190 results and nearly all what happened is that you get 5190 results and nearly all the results at the top are actually our company believe it or not. So let’s do a quick understanding of really what’s up here. Make this screen a bit bigger so you can see it. So that’s quite an interesting exercise. So the first company that comes up is actually a video on Facebook with VJ Sal on it as you can see. So it says, how can you stop LPA receivers from taking your buy to let?
So that’s quite interesting. So we’re actually number one when you type in keywords on the Internet, then the second video is the Lakhi Singh. The business and property fixer done six days ago. And it’s called What Banks Don’t Want You to Know about Repossession. That’s pretty good, isn’t it?
We’re on twice then. Thirdly, we’ve got another company called Repossession Expert. That’s a quick look at who they are, what they do. I think I had a look at this site the other day. They’re a company based in Wales that help people repossession. That sounds really good. We want as many companies out there to help other people as possible. So that’s good. Let’s have a look. Third company that comes down. Sorry.
Fourth research item that comes up is another one called Negative Equity Portfolio. So that’s come up. And that is actually one of our companies here. It’s called Rescue my Properties. So that’s one of the companies that we have just to give you an idea of the market in terms of who’s out there. And again, number five, Immediate Bank claims comes up, which is one of our brands and never guess who comes up. Look like me. It is me.
In fact, it’s called Lakhi Singh Property Fixer website. Well, Immediate Bank claims and this website has been set up to form people about basically what we do as an organization to help people with receivership. So what we take is, number one is we take detailed notes of your situation so that we can decide how to insist defending you in a repossession or eviction.
Number two, we assist you in negotiating directly with your lender; persuade them to cancel the eviction where possible. I would call it repossession. Actually, we will assist you to prepare your defense based upon your individual circumstance and help you restructure your finance so that you can afford to maintain your properties. And number four will assist you.