ABSTRACT
An informal arrangement, as its name implies, does not involve going to court. The other three options do. The first of these is an administration order.
❍ binding on all creditors even if they disagree; ❍ inexpensive; ❍ just one payment to the court each month; ❍ avoids formal insolvency procedures; and ❍ you avoid the stigma and inconvenience of
bankruptcy.
