Posts Tagged ‘Alternative to Bankruptcy’
Bankruptcy, Good Option for a Few
Friday, January 1, 2010 15:20 No CommentsBusiness owners have to consider going bankruptcy when there are no other alternatives available. Usually bankruptcy is taken as the last and worst step a business owner would take. However, although bankruptcy is bad in most situations, it is not always like that. It might be the best option for a few people as it [...]
Individual Voluntary Arrangements—A Formal Alternative to Avoid Bankruptcy
Friday, September 12, 2008 11:56 No CommentsFirst established by the Insolvency Act 1986 in the United Kingdom, the Individual Voluntary Arrangements (IVAs) is a legally binding agreement with the creditors and can be as flexible as an individual’s own circumstances, which is based on capital, income, third party payments or a combination of these.
It constitutes a formal repayment proposal presented to [...]
