Individual
Voluntary Arrangement

Individual
Voluntary Arrangement

 
An individual voluntary arrangement ("IVA") is a legally binding agreement between an individual and their creditors which allows them to pay all or part of their debt over a fixed period of time. It also provides creditors with a better return than if the individual were to enter into bankruptcy.

The procedure is managed by a "Supervisor", who must be an authorised licenced insolvency practitioner.

The proposed IVA will be presented to the individuals creditors and if approved by 75% of creditors by value that vote, the IVA will be approved. The Supervisor will oversee the conditions of the IVA, receive contributions and/or realisation of assets and make regular distributions to the individual's creditors. An IVA is an alternative to bankruptcy, has a degree of built in flexibility and will be tailored to the specific circumstances of each individual case.

 
 
 
  IPA   JWS Business Recovery Limited is a limited company registered in England, registration number 09132173. Our registered office is St Ann's Manor, 6-8 St Ann Street, Salisbury, Wiltshire, SP1 2DN. Our VAT registration number is 206 5044 42. We are registered with the Information Commissioner as a data controller, details about our registration can be viewed under registration number ZA114134.   IPA  
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JWS Business Recovery Limited is a limited company registered in England, registration number 09132173. Our registered office is St Ann's Manor, 6-8 St Ann Street, Salisbury, Wiltshire, SP1 2DN. Our VAT registration number is 206 5044 42. We are registered with the Information Commissioner as a data controller, details about our registration can be viewed under registration number ZA114134.
 
 
Terms & Conditions
Privacy Policy (GDPR) / Cookies / Site Map