Client account
A separate bank account used by a regulated or professional firm to hold client money apart from the firm’s own funds, where applicable.
Related terms
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Cleared funds
Money that has completed the banking process and is available for use, rather than a payment that is still pending or may be reversed.
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Solicitor
A qualified lawyer who can advise on legal rights, disputes, contracts and court proceedings and may act alongside a debt strategist where legal representation is needed.
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Insolvency practitioner
A person licensed to act in formal insolvency appointments such as liquidator, administrator, trustee in bankruptcy or IVA supervisor.
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