Individual Voluntary Arrangement
Increasingly popular these days, an Individual Voluntary Arrangement (IVA) is an agreement that is legally binding on your debtor, giving him or her the opportunity to reorganise their financial affairs so as to pay you as much as is feasibly possible.
An IVA freezes interest accruing on the debtor’s debts and allows them to put a proposal to you so as to pay all your debts (or a percentage of them) over a given period of time.
As licensed Insolvency Practitioners, we are fully qualified to advise both parties, ensuring that your debtor’s proposal maximises the monies paid back to you within reasonable, realistic and achievable terms.