Aug 29
One step which could upset the mind of a borrower is a fright of losing job after getting into the procedure of an Individual voluntary arrangement. Such thinking is reasonable to some degree but this is not the whole truth. It is true that livelihoods and careers are troubled by insolvent situation of a person but it does not represent that his job will surely endure by an IVA and he will be fired by his boss. Such exclusion is more probable in bankruptcy cases but in case of Individual voluntary arrangement employers behave leniently and he is likely to suffer disciplinary sanction only instead of total exclusion.
Tags: bankruptcy cases, disciplinary sanction, individual voluntary arrangement, livelihoods, whole truth