Individual Voluntary Arrangement
As well as offering debt consolidation and management solutions, SDS can also offer an alternative to personal bankruptcy through an Individual Voluntary Arrangement.
This is a legally binding agreement between the individual and his/her creditors whereby a payment schedule is agreed. This cannot be altered by the individual and is adjusted to match their circumstances.
An IVA allows the individual to avoid bankruptcy and meets creditors' requirements through regular payments and a final recovery of a percentage of the total sum owed.
