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What is an Individual Voluntary Arrangement?
Posted by Nigel on Mar 3, 2010 in Individual Voluntary Arrangement
An IVA is a legally binding arrangement supervised by a Licensed Insolvency Practitioner, the purpose of which 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 compromise should offer a larger repayment towards the creditor’s debt than could otherwise [...]