With your debt rising and financial pressures mounting, you need some assistance.  After looking at the choices one seems to work best for you – it’s called individual voluntary arrangement. 

In an IVA a debtor generally initiates the plan that is presented.  The debtor petitions the court and they review this option. The plan outlines repayment of a portion of the debt usually over five years.  An insolvency practitioner makes sure that all occurs as outlined in the plan. And after the repayment time period is up, the remaining debt that has not been repayed is generally written off by the creditors.

 

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