The secured loan IVA is another method whereby one can get rid of the debts where his loans surpass his income by a substantial amount. In this case, the debtor should be able to produce at least 30 per cent of the money owed so that it can be transferred to the creditors as soon as the IVA is agreed upon.
Posts Tagged ‘Debtor’
IVA For People With Bankruptcy
Monday, July 20th, 2009IVA for people with bankruptcy can really help a debtor to start afresh. The creditors receive some part of the debt and to that extent the debtor feels relieved.
Bankruptcy Software
Sunday, July 19th, 2009Filing for insolvency is a legal process that calls for the use of appropriate tools. With this in mind, experts have come up with some software that allows you to go through the process easily. Although the software targets attorneys, at the end of the day it also benefits you as a debtor. This is because the process is made easier and more reliable.
IVA – The Best Alternative to Bankruptcy
Sunday, July 19th, 2009The IVA’s are the easiest and the best way out for a person who is under debt. The person saves himself from bankruptcy by taking this option. The loan amount can be reduced through this option and hence the pressure is reduced to a large extent on the debtor.
Chapter 7 Bankruptcy Procedure
Saturday, July 18th, 2009Chapter 7 bankruptcy law is also known as liquidation. It allows the debtor to pay off debts by selling his assets and dividing the proceeds among his creditors. A special court officer known as a trustee is appointed. In the states of North Carolina and Alabama, he/she is known as the bankruptcy administrator.
