IVA – Solutions to Bankruptcy in the UK

Today I just bought a newspaper, one of the headlines discuss about global economics recession. Many factors that may cause recession explained, one of them is about raised oil price which is have impact to almost all economics situation in this world. As a business owner, I a feel a little bit worry too, I don't want my business get into trouble or maybe the worst scenario going bankrupt! I hope that don't come to me. Talking about bankruptcy, especially if you live in UK, if you have some financial trouble and may be potential declared bankrupt, I suggest you to find some information about IVA. IVA is an alternative to bankruptcy in UK. If you had trouble with your business, you can opt for an IVA instead of going bankruptcy. If your application get approved, IVA will freeze all interest and write off 75% of the debt. After that, you will make one small monthly payment for 5 years. This sounds good as an alternatives for you who might right now get into trouble with your business, I hope you don't.