IVA – Who needs an individual voluntary arrangement?
As well you being able to apply for an individual voluntary arr angement (IVA), it may also be proposed by the Administrator dealing with your administration order or by the court dealing with your bankruptcy petition. Individuals who benefit from a corporate voluntary arrangement include those which: Want to avoid the stigma of bankruptcy Need [...]
As well you being able to apply for an individual voluntary arr angement (IVA), it may also be proposed by the Administrator dealing with your administration order or by the court dealing with your bankruptcy petition.
Individuals who benefit from a corporate voluntary arrangement include those which:
- Want to avoid the stigma of bankruptcy
- Need some time to put together a new business plan for the company
- Will be solvent in the short term, but are under pressure from creditors
- Are solvent but have experienced bad debts or late payers
- Those who own their own property and wish to avoid the possibility of losing it in the event they were made bankrupt.
Entering into an individual voluntary arrangement is a very serious decision to make. You should seek legal or financial advice about the insolvency options available to you.
More information
- IVA – What is an individual voluntary arrangement?
- IVA – The individual voluntary arrangement process
- IVA – When to apply for an individual voluntary arrangement
- IVA – How to apply for an individual voluntary arrangement
- IVA – The advantages of individual voluntary arrangements
- IVA – The disadvantages of individual voluntary arrangements
- IVA – Insolvency and individual voluntary arrangements
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