IVA Info - Debt is a typical symptom in modern society. A recent survey states that the quantity of people entering into an Individual Voluntary Arrangement (IVA) has grown considerably more than 100%. An IVA is the best bankruptcy alternative. An IVA is a legal contract between the debtor and creditor and is also closely associated with debt consolidation reduction. It is really an bankruptcy alternative that was introduced in 1986 from the government within the Insolvency Act...
Through IVA debtors make a proposal for their creditors arrive at a settlement. If the proposal meets the approval of a majority of the creditors, then it prevents any further action.