Individual Voluntary Arrangements

Individuals, including sole trader businesses, may propose an Individual Voluntary Arrangement to creditors as a means of maximising the outcome for creditors and avoiding personal bankruptcy.

A proposal may be based on a lump sum or contributions over a period of up to five years.

Advantages include:

• Avoid restrictions and stigma of bankruptcy
• Retain control of your assets
• Lower costs than bankruptcy give an enhanced return to creditors
• Once accepted by >75% of creditors voting, the proposal is binding upon all creditors

To find out more and discuss if a voluntary arrangement is right for you, get in touch with your closest Kingsbridge office.