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Contrasting an Individual Voluntary Arrangement with Bankruptcy
In wanting to deal with personal insolvency it’s almost inevitable that the debtor will have to look into the two most important solutions to be found in the Great Britain, namely going into an Individual Voluntary Arrangement (IVA) or petitioning for Bankruptcy. Naturally there can in particular cases be other more favourable options available to the borrower but they mostly belong to the category of the kindness of strangers or of the generosity of a family member. In reality, because doing nothing is not an alternative, most individuals are going to opt for one of the two pillars of British legislation regulating the resolution of personal insolvency. In the end, no matter what the quality or quantum of help and advice sought, it will fall to the insolvent individual to decide which path to go for.