About: Individual voluntary arrangement     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : dbo:Organisation, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)
QRcode icon
http://dbpedia.demo.openlinksw.com/describe/?url=http%3A%2F%2Fdbpedia.org%2Fresource%2FIndividual_voluntary_arrangement&invfp=IFP_OFF&sas=SAME_AS_OFF&graph=http%3A%2F%2Fdbpedia.org&graph=http%3A%2F%2Fdbpedia.org

An individual voluntary arrangement (IVA) is a formal alternative in England and Wales for individuals wishing to avoid bankruptcy. In Scotland, the equivalent statutory debt solution is known as a protected trust deed. An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances. It can therefore be based on capital, income, third-party payments or a combination of those. The analogous procedure for businesses is the company voluntary arrangement.

AttributesValues
rdf:type
rdfs:label
  • Individual voluntary arrangement (en)
rdfs:comment
  • An individual voluntary arrangement (IVA) is a formal alternative in England and Wales for individuals wishing to avoid bankruptcy. In Scotland, the equivalent statutory debt solution is known as a protected trust deed. An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances. It can therefore be based on capital, income, third-party payments or a combination of those. The analogous procedure for businesses is the company voluntary arrangement. (en)
dcterms:subject
Wikipage page ID
Wikipage revision ID
Link from a Wikipage to another Wikipage
Link from a Wikipage to an external page
sameAs
dbp:wikiPageUsesTemplate
has abstract
  • An individual voluntary arrangement (IVA) is a formal alternative in England and Wales for individuals wishing to avoid bankruptcy. In Scotland, the equivalent statutory debt solution is known as a protected trust deed. The IVA was established by and is governed by Part VIII of the Insolvency Act 1986. It constitutes a formal repayment proposal presented to a debtor's creditors via an insolvency practitioner. Usually but not necessarily, the IVA comprises only the claims of unsecured creditors and leaves the rights of secured creditors largely unchanged. Insolvency practitioners charge initial and ongoing fees that are in addition to the debt. An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances. It can therefore be based on capital, income, third-party payments or a combination of those. In this process, a debtor who has enough money left over after priority creditors and essential expenses, may be able to arrange an individual voluntary arrangement. (After taking independent advice, debtors with less serious problems may wish to consider a debt management plan.) The analogous procedure for businesses is the company voluntary arrangement. (en)
gold:hypernym
prov:wasDerivedFrom
page length (characters) of wiki page
foaf:isPrimaryTopicOf
is Link from a Wikipage to another Wikipage of
is Wikipage redirect of
is foaf:primaryTopic of
Faceted Search & Find service v1.17_git139 as of Feb 29 2024


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 08.03.3330 as of Mar 19 2024, on Linux (x86_64-generic-linux-glibc212), Single-Server Edition (378 GB total memory, 58 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2024 OpenLink Software