IVA Debt Restructuring｜Avoid Bankruptcy with Professional Legal Debt Negotiation
IVA Debt Restructuring(Individual Voluntary Arrangement) is a legal alternative to bankruptcy that allows debtors to negotiate reduced interest rates and extended repayment terms with creditors (banks and finance companies) through a lawyer, enabling repayment via affordable monthly installments. This plan effectively prevents bankruptcy, preserves your credit and professional qualifications, and is ideal for clients with steady income but heavy debt burdens.
Yip Tse Tang Solicitors is one of Hong Kong’s pioneering law firms in IVA arrangements. With over 1,200 successful cases and more than HK$1 billion of debts restructured, our lawyers maintain strong working relationships with banks and financial institutions, ensuring practical, legally sound repayment plans that help clients regain financial control with confidence.
Key Features of IVA Debt Restructuring
- Legal Alternative to Bankruptcy: Court-approved agreement replaces bankruptcy proceedings, allowing clients to maintain normal life and employment.
- Interest Reduction & Repayment Extension: Negotiate with creditors to lower interest rates and extend repayment terms for manageable monthly payments.
- Debt Collection Protection: Once the IVA is legally approved, creditors cannot pursue further legal action or harassment.
- Flexible Payment Options: Lawyer’s fees can be paid in installments and included in the IVA repayment plan.
- Transparent & Affordable Fees: Clear quotations, no hidden charges, and free initial legal consultations.
IVA vs. DRP Debt Relief Plan
In addition to IVA, our firm also offers the DRP Debt Relief Plan — both are legal debt restructuring options. DRP is bank-approved, faster, and lower in cost, while IVA carries court recognition, making it suitable for larger or multi-creditor debt situations.
| Item | IVA Debt Restructuring | DRP Debt Relief Plan |
|---|---|---|
| Legal Authority | Court-approved | Bank agreement |
| Approval Time | 3–4 months | 2–7 days |
| Suitable For | High-debt or multi-creditor cases | Moderate debts, faster restructuring |
| Court Procedure | Required | Not required |
| Legal Fees | Installments available, included in IVA | HK$4,500–HK$9,500 |
Professional Legal Support & Success Cases
The debt restructuring team at Yip Tse Tang Solicitors combines strong legal expertise with practical experience. Each case is personally analyzed to design the most suitable repayment plan, ensuring high success rates and full compliance. We adhere to the principle of “No success, no fee”, offering free consultations so clients understand the procedure, cost, and outcomes before committing.
IVA Application Process
- Free debt assessment and initial consultation with our lawyer.
- Lawyer drafts a restructuring proposal and negotiates with creditors.
- Submit proposal to the court for approval and obtain IVA order.
- After creditor approval, start monthly repayments under the IVA terms.
- Upon completion, all debts are legally discharged.
📞 Debt Restructuring Hotline
Hong Kong: (+852) 6689 9999
🌐 Learn more: https://www.ytt.com.hk
Yip Tse Tang Solicitors — Hong Kong’s Leading IVA & Debt Restructuring Lawyers｜Helping You Restart Financially with Confidence.