Brief IVA Steps

  1. Data Collection
    • Arranging Fill-in of debt evaluation questionnaire (DEQ)
    • Conducting interview
    Take around 2-4 working days

  2. Proposal to Court
    • Preparing Proposal of Arrangement
    • Applying Interim Order from Order
    • Court hearing of the Proposal
    • Issuing of Interim Order when Court Approved
    Take around 2 months

  3. Creditors' Meeting
    • Advertising the notice of Creditors' Meeting and also notifying the creditors of the Meeting
    • Convening the Creditors' Meeting
    • Amending Proposal if necessary
    • Passing through the Proposal if accepted by creditors representing at least 75% of the debt
    Take around 4 weeks

  4. Report and Minutes to Court
    • Submitting Minutes and Report for Court consideration
    Take around 3 weeks

  5. Repayment
    • Nominee execute the repayment process upon Court Approval
    • First payment shall be paid into Nominee's account within 14 days after Creditors' Meeting

To get a clearer understanding of the costs involved in setting up and maintaining an IVA it is best to contact one of our IVA specialists.