Confidentiality of an IVA
Insolvent persons who are considering entering into an Individual Voluntary Arrangement (IVA) with their creditors are often concerned as to whether the world generally and certain others in particular will find out about them and learn that they are in financial trouble. This is a very understandable worry. When your financial reputation is on the line, it would be nice to think that you can keep your nosy neighbours, your friends, your family, your work colleagues and your employer from learning about your difficulties while you try to remedy the situation. The plain unvarnished truth is that there is no guarantee that you can keep your IVA quiet. However there are steps you can take to minimise the likelihood that certain people can be kept in the dark and even put off the scent, so to speak, particularly when they have no financial interest in your status and all they have to gain from discovering your problems is nothing more that satisfying their curiosity.