如果你正在考虑个人自愿安排(IVA)来帮助管理你的债务, this article aims to answer, as comprehensively as possible, the key facts you’ll need to know.
What is an Individual Voluntary Arrangement in the UK?
An Individual Voluntary Arrangement (IVA) is an agreement between an Individual (also known as a “Debtor”) and their creditors.
The debtor can make a Proposal offering repayment from future surplus income over a 1-5 year period or perhaps offering a lump sum payment. IVA可能要求债权人在他们的债务上做出妥协，以在英镑分配中获得一便士.
The IVA is a binding agreement for all creditors and requires acceptance at the creditors’ meeting of more than 75% of creditors voting in favour of the Proposal.
The Insolvency Practitioner (IP) function will be to act as a Nominee in presenting the Proposal to creditors and then if accepted will act as Supervisor of the Arrangement.
It is important that the IP should ensure that the Proposal is achievable and a fair balance is struck between the debtor and the creditors.
Why might an Individual Propose an IVA?
• The debtor may have received a statutory demand or bankruptcy 债权人和IVA提出的申请对债权人来说可能比网赌靠谱平台有哪些推荐更好.
• The individual may be unable to settle a HM Revenue & 海关债务或税务查询导致巨额罚款决定.
• The individual may be a professional (e.g. accountant or solicitor) and if bankrupt this could prohibit them from working and therefore an IVA might be an alternative to ensure that they continue in employment.
•债务人可能难以应付每月的信用卡债务, loans and other monthly expenditure and an IVA may provide a mechanism to offer a coherent repayment plan and freeze interest.
There are various stages to the IVA process:-
Stage 1 – Initial Meeting
具有顾问身份的知识产权组织总是提供与债务人面对面的会议. However, a meeting is not always necessary and can be conducted over the telephone or alternatively over a video call depending on the debtor’s attitude and the circumstances and complexity of the proposed IVA.
The IP will ensure that the debtor understands what is required of them during the IVA process and the consequence of entering into an IVA, including the rights to challenge the IVA by creditors and what may happen if the IVA is not approved or not successfully completed.
In addition, 知识产权将清楚列出不同个人网赌靠谱平台有哪些推荐选择的优缺点, 不局限于IVA，以便个人了解网赌靠谱平台有哪些推荐, 债务管理计划和其他形式的非正式债务解决办法以及可能涉及的费用.
建议需要关注债务人的个人情况, taking into account the debtor’s assets, 特别是家庭住宅和任何可能受到影响的第三方.
Sufficient information will need to be obtained in order for the IP to be satisfied that measures are to be taken by the debtor to avoid the recurrence of these financial difficulties in the future.
Stage 2 – The Individual Voluntary Arrangement Proposal
The Proposal sets out the terms of the Arrangement between the individual and their creditors’ and forms the basis of offering a deal to creditors.
The Proposal is presented by the debtor to the meeting of creditors and includes a background and financial history; the reasons as to why they have become insolvent; any attempts to solve their financial difficulties; a comparison of the estimated outcomes of the IVA compared to bankruptcy; a statement of affairs and any cash flow projections.
Stage 3 – The Nominee
The IP will act as the Nominee in presenting the Proposals to creditors and has a duty to report on the contents of the Proposal. This information is contained within the Nominee’s report which is circulated to creditors together with the Proposal.
1. 债务人的财务状况与提案中所载有重大不同, 解释信息已被核实的程度.
2. That the IVA is manifestly unfair.
Stage 4 – Interim Order
An interim order will prevent creditors taking action against the debtor and provide an initial moratorium period whilst an IVA is being put in place. 这将在制定建议时提供保护和呼吸空间.
As a result of the moratorium, a landlord cannot exercise the right of forfeiture to the business premises without the leave of the Court nor can any legal action continue against the debtor whilst the interim order is in force.
1. The Proposal
Where an application is made, the nominee must report to the court before the Interim ceases to have effect (14 days from the day after the making of the order) on:
Stage 5- Meeting of Creditors
A meeting will be convened and creditors’ will be provided with a proxy form to vote in favour or against the Proposal and submit their claims. 若有超过75%的多数票赞成该建议，则该建议会获接纳.
Often creditors’ propose modifications to the terms being proposed and the meeting can be adjourned for a period of up to a maximum of 14 days in order for the modifications to be considered by both the nominee and debtor.
如果债权人拒绝接受提案或不能就修改意见达成一致, the Proposal will be rejected and it is likely that the debtor will need to consider other forms of insolvency options including Bankruptcy.
Stage 6 – Implementation of IVA
Once the Proposal has been accepted, the Supervisor will notify the creditors, the debtor of the final form of the accepted IVA.
The Supervisor will have a duty to ensure that the IVA is carried out in the accordance with the terms of the Proposal. The Supervisor will hold a client account and will monitor that contributions are received in a timely manner and that creditors receive the agreed level of dividend as per the Proposal.
监理人将有义务每年审查债务人的收入和支出以及纳税申报表, to analyse whether there needs to be an increase in the level of yearly contributions or any change of circumstances.
On an annual basis the Supervisor will circulate to creditors a progress report to creditors which details the level of payments received into the IVA, 确保债务人没有任何拖欠，并包括向债权人支付的股息.
Stage 7 – Variation
Due to unforeseen circumstances, 债务人可要求变更自愿转让协议的条款, 毕竟IVA有时可以持续5年. For example:-
1. The debtor falls into arrears with contributions.
2. The debtor becomes unemployed for a short period of time.
3. The forecast minimum dividend is no longer achievable.
Creditors will be advises of a proposed change to the original terms of the IVA proposal which will need to be agreed by more than 75% of creditors voting.
Stage 8 – Failure
If during the course of the IVA, the debtor is in breach of the terms of the Arrangement, 那么就会向债务人发出违约通知, 未缴付缴款期间超过3个月.
债务人将有很短的时间来补救违约. However, if this cannot be remedied, 那么，根据提案中包含的条款，监理人将无法通过IVA, will petition the debtor’s bankruptcy.
Once the terms of the IVA have been completed, 监理人将向债务人签发竣工证书, 债权人与法院确认IVA已结案.
How does an IVA affect your life?
它不大可能影响你的职业生涯，除非你在敏感行业工作 , where an IVA may mean restrictions or, in some cases, an inability to practice. The key industries where restrictions may apply are:
Each employer will differ, 你需要参考你的雇佣合同来确定这些影响.
If you have particular assets of value you will need to discuss these with the insolvency practitioner working on your case. 你还需要完全诚实地面对你所拥有的IP, in order to be compliant with the law.
An IVA may certainly affect your future income, 及/或在安排期间由你管有的资产.
AN IVA is based around what you can afford at any given time and this is weighed carefully before the arrangement is agreed upon. It stands to reason that if your situation changes for the better then this should benefit those creditor waiting to be paid.
Can I do an IVA Myself?
It is not possible to arrange an IVA by yourself. 相反，法律规定必须聘请网赌靠谱平台有哪些推荐执行人提供服务.