What are the Advantages of an IVA Over Bankruptcy?
Setting up an IVA does not have any of the same stigmas or disqualifications associated with bankruptcy. Unlike bankruptcy, an IVA is a private agreement with your creditors which means that it does not get publicised. There are also no professional disqualifications and you maintain your right to hold public office. Furthermore, bankruptcy proceedings are much more costly for the debtor and creditor than setting up an IVA.
