Individual Insolvency
Individual Insolvency
Individual insolvency is declared when a company or individual can no longer meet its debt obligations with another firm or institution. If the individual wishes to avoid bankruptcy, they can make an Individual Voluntary Arrangements (IVAs) which are a formal alternative for individual insolvency.
This is a contractual arrangement with creditors based on capital, income, third party payments or a combination of these. The duration of the IVA is typically three years.
If you would like to discuss individual insolvency or other debt issues, fill in the Debt Management Advice form and a specialist adviser will contact you shortly to discuss your options.
Alternatively click on debt advertising links below: