Kirk Byrne Home page

Individual Voluntary Arrangements

An Individual Voluntary Arrangement (IVA) is an alternative to and is particularly useful for small businesses such as sole traders. It is a legal deal between the individual and his creditors where an arrangement is made to repay some or all of his debts.

Typically an IVA lasts between one and five years, during which time, interest on debts is frozen.

75%, by value, of creditors must agree to the proposal which, if accepted, will bind all creditors.

Once the IVA proposal is accepted by creditors the Insolvency Practitioner acts as supervisor of the Arrangement and provides annual reports to creditors on the progress of the Arrangement.

Our publications section has further information about IVA's.

I have worked with Byrne Associates for over 10 years. They take a pragmatic approach to what can often be a tricky and sensitive situation in order to obtain the best outcome. I would have no hesitation in recommending their services to othersSian Phillips (Foot Anstey Solicitors )

Contact Us

  • Head Office: Suite 3 Farleigh House, Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1UR
  • Tel: 01275 464 038
    Fax: 01275 462 937
  • info@byrneassociates.co.uk

Copyright © 2012-2018 Byrne Associates   |  Privacy Policy  |  Sitemap

R3 - Association of Business Recovery Professionals
ACCA - global body for professional accountants
Byrne Associates twitter feed
Byrne Associates LinkedIn profile
X

Can we help?

Contact us now - 01275 464 038

Call now