Speak to one of our Personal & Business Bankruptcy specialists today.
Your Personal Bankruptcy Specialists
We are personal bankruptcy specialists, and can help you with anything from individual voluntary
arrangements (IVA’s), to debt management, helping you to find a fresh start.
If you’re unsure which route is for you, then please do not worry, our team of specialists can talk
you through the entire process, and help you to make the best decision for your own individual
And if you would simply like to understand what is an IVA? What is the bankruptcy register? Or
how do you make a bankruptcy application? Then read on, as we have the answers to all of your
personal bankruptcy questions.
For a positive solution to your situation
Individual Voluntary Arrangements (IVA)
In England and Wales, an individual voluntary arrangement is a formal alternative for individuals
wishing to avoid bankruptcy.
A voluntary arrangement is a tailored contract between you and your creditors. Allowing you to
avoid personal bankruptcy. This is usually drafted and overseen by an Chartered accountant or an
Insolvency Practitioner and performed on the basis where there is a clear advantage as to why the
voluntary arrangement is better for creditors. It creates flexibility, and provides a greater return to
creditors. It can be looked upon as an interest free loan payable over 60 months or whatever the
term is that is agreed.
A debt management plan is an agreement between a debtor and a creditor that addresses the
terms of an outstanding debt.
If you want to avoid a declaration of insolvency and have a disposable income, and need your
creditors managed with a set amount every month with expended terms and the potential of
frozen interest then this is an effective method of keeping creditors under control. It should be
looked at as a short term remedy and not be relied upon for the longer term.
Bankruptcy is choice, or can be a strategic move to manage overwhelming debts. It is seen as the
fastest way out of debt and get back to zero.
Bankruptcy enables you to write off all (or most of) your debts. It can also ensure that creditors cannot take further action against you, giving you a fresh start, and another chance to get things right.
Please note that choosing to become bankrupt is a big decision, and it is important that it is the
right move for you. We take you through the available options.There are alternative options to
bankruptcy in most instances. But the big question should always be…What have you got to lose?
Will are totally impartial and independent and will give you the information you need to make the
right decision for you.
what if i do nothing?
The choice to do nothing means that you are either delaying the inevitable of the debt collection
process. If you are aware of a positive life change coming up then it may just be time you need.
You maybe selling a house, or expecting a windfall.
If you are then you must try and ensure that you are not made bankrupt before your monies come
in. It can be a very expensive process if you fall into bankruptcy before the money arrives. If you are
in a helpless position now then there’s not much you can do to resolve and make arrangements
for repayments now. It is critically important that you inform your creditors of your situation. You
will find most of them to be helpful and understanding.