Individuals & sole traders
Individuals and Sole Traders
Individual Voluntary Arrangements
An Individual Voluntary Arrangement (IVA) is a flexible procedure that enables an insolvent individual to make an offer to creditors by way of a formal proposal, in full and final settlement. If accepted by 75% in value of the creditors who vote upon the scheme, it will be legally binding upon all creditors. The offer does not have to repay creditors in full and can be structured to allow repayment over a period of time.
Robert Day & Company can help and advise throughout the IVA process and can accept the appointment as Nominee and Supervisor.
Robert Day & Company can help by:
Acting as a Trustee in Bankruptcy
Accepting the appointment as
Bankruptcy to realise the bankrupt’s assets on behalf of creditors