IVAs & Bankruptcy

Choose from the following topics:
What is an Individual Voluntary Arrangement (IVA)?
How and why would a creditor accept a lower amount?
What do I have to pay for this advice?
The Advantages of an Individual Voluntary Arrangement
The Disadvantages of an Individual Voluntary Arrangement <
The Advantages of Bankruptcy
The Disadvantages of Bankruptcy
The IVA Process

The Disadvantages of an Individual Voluntary Arrangement
• IVA is only suitable if you or another person can afford to make an offer of repayment to your creditors.
• Your creditors agree to the arrangement by a vote. We will not suggest the IVA as a course of action unless we think there is a good chance that your creditors will accept your offer.
• If you do not make the payments to the IVA it is likely that the Arrangement will fail and your creditors will be able to take other action against you. This may result in your bankruptcy.