4. What is the difference between Individual Voluntary Arrangement in Hong Kong and Debt Relief Plans?

DRP is very similar to the Individual Voluntary Arrangement, but it is not the same. While IVA in HK requires you to go through the court to approve the new repayment proposal, DRP does not require the court to get involved. People who are in heavy debt and don’t want to involve the court prefer the Relief Plan. In the case of the DRP, you will have to directly negotiate any new repayment plans with your creditors.