IVA - When Bankruptcy is the Only Other Option You Have Posted: 15 Sep 2008 If you are unable to pay your debts and are facing bankruptcy, then an IVA or Individual Voluntary Arrangement might be the correct alternative for you. It is a formal repayment proposal arranged between you and your creditors through an Insolvency Practitioner. Under this program, you pay your creditors a percentage of what you actually owe them over a period of 5 years. The payment can be based on your capital, in
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