For help and advice contact Sheffield 0114 2859500 or Rotherham 01709 331300
Individual Voluntary Arrangement
An Individual Voluntary Arrangement (IVA) is an alternative to bankruptcy. An IVA is a legally binding agreement between you and your creditors.
The terms of your IVA proposal to creditors can be flexible and are primarily down to your circumstances. Your proposal could include the sale of assets, contributions from your future income, a third party contribution or a combination of these.
The right choice for you?
An IVA allows you to stop escalating debts and begin again debt-free.
An IVA may be worth considering if you have surplus disposable income, or if you wish to avoid bankruptcy in order, for example, to avoid losing your job.
If you are a sole trader, an IVA may enable you to continue trading during a period when there are cash flow problems or other unforeseen commercial issues.
To understand the full implications of choosing an IVA as an option call us today on 0114 285 9500.