Laurette
McNay

WHO I HELP

Individuals. Partnerships.

HOW I HELP

Advising on personal insolvency. Working with clients to find optimal solutions to their financial distress and money worries, ensuring maximum return to their creditors where possible.

Where there is heritable property, exploring all avenues to minimise the requirement for property to be sold unless absolutely necessary.

“AN ANSWER TO MONEY WORRIES CAN ALWAYS BE FOUND.”

Based in Glasgow, Laurette McNay is an assistant manager in our Restructuring and Recovery team. Laurette manages a workload of personal insolvency cases, both debtor- and creditor-driven. Her role within the firm includes communicating with potential clients, and providing

them with the detailed information on the various statutory routes available in terms of personal insolvency to alleviate their financial difficulties, whether that be sequestration or trust deed. She takes pride in the fact that she would never guide a potential client down the route of formal personal insolvency, if it is not in their best interests to do so. Laurette takes the time to go through all the facts of a person’s financial circumstances to ensure they receive the best, tailored advice.

Laurette’s personal experience of having faced financial difficulties as a sole parent to her three children when they were young provided her with a wealth of experience in terms of the difficulties that can arise when you are reliant on a limited income. It also provided her with a keen ability to empathise with those clients facing financial difficulties because of changes in their circumstances. Laurette is aware that, quite often, personal financial difficulties lead to mental health difficulties, and she is always conscious of identifying vulnerable debtors. She also actively takes the opportunity to access any courses in this field, to ensure that when demanding situations arise, she is better equipped to help a client and is up to date with ways the client can access further help. Laurette is a principal point of contact for the team when a vulnerable debtor is identified.

MUTUAL RESPECT & EXCELLENT COMMUNICATION

“My ideal relationship with a client is one that is based on understanding, and one in which we are able to deal with demanding situations with a mutual respect. Excellent and honest communication goes a long way towards allowing this to happen.”

A GOOD LISTENER

“Clients expect excellent guidance and advice from me, as well as regular and clear communication. They also expect understanding; I am a good listener, which can be invaluable in building trust with a client.

Clients who voluntarily seek assistance to deal with their financial affairs expect me to provide them with a solution which, in turn, alleviates their stress and worry.”

THE BENEFITS OF CATCHING UP IN THE OFFICE

“Due to modern technology, the majority of the time I work from home but when I am in the office, I do like to hear about other members of staff cases, and the difficulties they incur to achieve a successful outcome as it helps me to continually learn how best to navigate these situations. Discussing challenging cases with the Trustee and taking on board any advice or guidance given by the Trustee is also really helpful. And of course, it’s nice to catch up with the personal side of a colleague’s life!”

MAKING DIFFICULT SITUATIONS AMICABLE

“I believe that the manner in which you approach a difficult situation with a debtor gives rise to them accepting the constraints of the Bankruptcy legislation which must be adhered to at all times. Trying to make a demanding situation as amicable as possible saves time and mitigates the possibility of embarking upon legal action for the Trustee to achieve their goal.”

DEALING WITH NON-ENGAGEMENT

“The biggest challenge I face in my area is clients who have been sequestrated as a result of a creditor petition, who simply will not engage with the Trustee. It leads us to having to investigate bank accounts, Equifax reports, and social media to attempt to establish their whereabouts.”

AN EXCITING TIME

“It’s an exciting time to be part of AAB as it has grown in strength in terms of taking over other firms, utilising experienced, well-respected senior staff, and I believe that the firm will continue to do so.”

GREAT COMMUNICATION

“I would say that the greatest strength that I bring to AAB is my ability to put people at ease, which in turn leads to new clients. I also have great communication skills, which is really helpful in terms of meeting with potential client sources, money advisors, citizens’ advice bureaus and other debt charities. It also helps with explaining how insolvency works, the options that are open, and what AAB can do for their clients.”