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Is bankruptcy a better option than an IVA?

April 26, 2017Bankruptcy IVA option

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Is bankruptcy a better option than an IVA?

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This depends on your situation. If you are a home-owner, own your own business or work in any of the prohibited professions – such as a lawyer, chartered accountant or justice of the peace – then it is probably better to opt for an IVA. If not – then filing for bankruptcy is almost certainly a better option for you, as you will have no assets to protect.