Individual Voluntary Arrangement definition
Examples of Individual Voluntary Arrangement in a sentence
If You are in an Individual Voluntary Arrangement (“IVA”), Your Compensation may be paid to the Insolvency Practitioner who is supervising Your IVA.
If after the review of your circumstances it becomes apparent that an alternative debt solution (e.g. an Individual Voluntary Arrangement or Bankruptcy) may be in your best interests then any fees associated with switching debt solution will be fully explained and your permission will be sought to transfer any personal data to another debt solution provider.
For example you cannot show that you live in the UK; • become insolvent, bankrupt or make an Individual Voluntary Arrangement with or agree a Trust Deed for people you owe money to.
If You are in an Individual Voluntary Arrangement and Compensation is offset against Your arrears at source by the Company We reserve the right to waive Our Fee(s).
If you are subject to an Individual Voluntary Arrangement, Protected Trust Deed, Bankruptcy, Sequestration or other Debt Management Order we will seek advice on a case by case basis from the trustee of your arrangement as to who funds should be returned to and if necessary, invoice the Insolvency Practitioner for the amount of 39% plus VAT in the event that funds should be returned to your arrangement.
You enter into an Individual Voluntary Arrangement with Your creditors or have a Bankruptcy petition presented against You.
In this case, We will submit Our Fee invoice to the Insolvency Practitioner for payment out of Your Compensation at the rates outlined in the table in clause 5.a. If You are in an Individual Voluntary Arrangement and Compensation is offset against Your arrears at source by the Company We reserve the right to waive Our Fee(s).
If, for whatever reason, You do not enter into an Individual Voluntary Arrangement, We may refer other services to You.