If this is official, and it looks like it may be, I still cannot see how it makes an IVA even look more appealing than bankruptcy, an IVA can still fail a Bankruptcy cannot, the window of opportunity for the trustee to get the bankrupt pay into an IPO is still 12 months, bankruptcy assist companies will advise the part time job to terminate, the overtime to stop, its only a year to live on allowances similar to an IVA, remember Bankruptcy Assist companies they work for the debtors, whereas the IPs have a legal responsibility to work for the creditors, so following discharge, still 12 months, you can inherit a property, win the lottery, become head of ICI you still have afresh start, whereas upon the failure of an IVA and I predict there will be many in 2011, but normally 12 to 18 months in you are back to square one.
