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Voluntary Arrangement

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Voluntary Arrangement
An agreement between a debtor and one or more creditors whereby the debtor repays according to a certain schedule arranged between all parties. A voluntary arrangement benefits creditors because it ensures that they are repaid. However, it also benefits the debtor because it keeps him/her out of bankruptcy.


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She said: "Like most businesses, we would have preferred the voluntary arrangement that has delivered this good service all these years.
Alfred Buller Bloodstock Limited is seeking a voluntary arrangement with its 67 individual creditors, including the Irish Equine Centre, Juddmonte Farms and Down Royal and Punchestown racecourses.
I am appalled by the current proliferation of debt management companies and so called "free debt advice" services that are in fact bundling people into unsuitable voluntary arrangements that provide incredibly high fees for those companies that promote them.
 
 
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