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Daily Health | IVA Resource CentreThings to check before applying. Individual Voluntary Arrangements, or IVAs, were put in place to give UK citizens a helpful alternative to declaring bankruptcy. Before this act was passed into law, this was the only process of formal debt control available. Bankruptcy and insolvency. Are still under the governance of the ninth section of the insolvency act, their exact purposes are different. The following is a comparison of these two options for debt control. How to Qualify for an IVA. In cases of smal...
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