A
voluntary arrangement for an individual is a
procedure whereby the person comes to an arrangement
with his creditors in how their debt will be
discharged. Such a scheme requires the approval of
the court and is under the control of a supervisor.
(Please Note: The
definitions are not intended to be exhaustive
summaries of the Law. They are based on material
from The Insolvency Act 1986 , and other Acts
dealing with this subject.)
Budgeting at christmas 
