Advice on Individual
Voluntary Arrangements (IVA's)
 |
A Voluntary Arrangement can be a sensible alternative to
bankruptcy for many individuals.
Whilst not suitable for everyone, an Individual
Voluntary Arrangement, otherwise known as an IVA, can be
of enormous benefit to a debtor.
|
IVAs explained
An
Individual Voluntary Arrangement or IVA as it is more commonly
known is a legally binding arrangement that is supervised by a
Licensed Insolvency Practitioner. The purpose of the agreement is
to enable an individual, sole trader or Partner ("the Debtor") to
reach a compromise with his creditors and avoid the consequences
of bankruptcy.
The debtor makes a proposal for repayment of part or all of the
debt that may well be far more attractive to the people / firms
etc that are owed money (the "Creditors") than would otherwise be
the case if bankruptcy was enforced.
If you find yourself unable to repay your creditors
then, whether you are an individual or a company, you
must take action.
Obtain advice before it is too late.
As a firm of Law Society regulated solicitors, we are
duty bound to provide our clients with the best possible
advice.
Contact us today by completing the form opposite or by
calling us on
0845 890
2277
The solution to your problems might be far simpler and
far cheaper in the long run than you appreciate.
More on IVAs and the
process of setting up
such a product and also the
advantages or
disadvantages.
........................................................................................
SPEAK TO REGULATED
bankruptcy
solicitors
IF AT ALL POSSIBLE. The credit management industry is
notoriously unregulated and this can make it difficult
to obtain good advice.
The credit management industry is notoriously
unregulated and this can make it difficult to obtain
good advice.
MAKE SURE ANY ARRANGEMENT YOU ENTER INTO IS RIGHT FOR
YOUR COMPANY AND NOT JUST RIGHT FOR THE CREDIT FIRM OFFERING YOU THE
PLAN
|
