Individual Voluntary Arrangements - The Next Mis-Selling Scandal?In the current economic environment there has been a massive increase in not only bankruptcies, but also Individual Voluntary Arrangements (IVAs). IVAs are viewed as the only alternative to bankruptcy for many, allowing them to retain at least some control over their financial arrangements.
Filing Chapter 7: Understanding the ProcessWhen it comes to filing Chapter 7, the process is one that is complex and takes time. You can’t just walk into your attorney’s office and expect to have the bankruptcy discharged.
Information on BankruptcyThe quick and dirty definition of bankruptcy is when a person who is unable to pay their debt goes to court seeking relief. If you are the petitioner, the court must determine if your debts are truly beyond your ability to pay. Then, depending on your case, either the court discharges the bulk of your debt or sets up a payment schedule that is in your best interests but does not entirely absolve you of the responsibility of paying your creditors.
