6. What information does your company require to start the Individual Voluntary Arrangement process?

If you are a debtor looking to avail of IVA in HK, we will require all the information related to your current debts and proof of your income. We will need to verify that you have a stable income and that your debts are over 10x of your monthly salary. You will also have to have a minimum of three creditors to apply for IVA in HK.

When you apply for Individual Voluntary Arrangement in Hong Kong, we will scrutinise your financial situation and your ability to pay off your creditors. If you fulfil all the requirements, we will create a new payment plan that your creditors approve. But more importantly, it will be a restructured debt plan that will allow you to clear your debts on time.