Bankruptcy vs IVA (Individual Voluntary Arrangement): Hong Kong Comparison & Cost Guide
Quick Answer
Bankruptcy clears all debts; IVA restructures them over time. Choose IVA for lighter debt to avoid bankruptcy record.
Bankruptcy
Overwhelming debt with no ability to repay
HK$8,000 – HK$20,000
✓ Pros
- Complete debt discharge
✗ Cons
- Impacts professional qualifications
IVA (Individual Voluntary Arrangement)
Stable income and wish to retain employment
✓ Pros
- Retain your job
✗ Cons
- Repayment period up to 5 years
Comparison Guide
Bankruptcy
VS
IVA (Individual Voluntary Arrangement)
Compare differences, pros & cons, and Hong Kong market pricing to help you decide.
比較指南
破產申請
VS
IVA 債務重組
了解兩者的分別、優缺點及香港市場收費，幫你作出更清晰的選擇。
Service Comparison
Bankruptcy
Overwhelming debt with no ability to repay
Price RangeHK$8,000 – HK$20,000
✓ AdvantagesComplete debt discharge
✗ DrawbacksImpacts professional qualifications
IVA (Individual Voluntary Arrangement)
Stable income and wish to retain employment
Price RangePrice varies
✓ AdvantagesRetain your job
✗ DrawbacksRepayment period up to 5 years
Quick Comparison Table
| Feature | Bankruptcy | IVA (Individual Voluntary Arrangement) |
|---|---|---|
| Best for | Overwhelming debt with no ability to repay | Stable income and wish to retain employment |
| Key advantage | Complete debt discharge | Retain your job |
| Key drawback | Impacts professional qualifications | Repayment period up to 5 years |
| Price range (HK) | HK$8,000 – HK$20,000 | See details |
Price Comparison (Hong Kong)
IVA (Individual Voluntary Arrangement)
Market price depends on service scope and provider.
Prices are market references for Hong Kong and may vary based on provider, scope and timing.
Which Should You Choose?
Choose Bankruptcy
Overwhelming debt with no ability to repay
- Advantage: Complete debt discharge
Choose IVA (Individual Voluntary Arrangement)
Stable income and wish to retain employment
- Advantage: Retain your job
Consider your budget, specific requirements and timeline when deciding between Bankruptcy and IVA (Individual Voluntary Arrangement) in Hong Kong.
Related Price Information
FAQ
Does bankruptcy affect my job?
Yes, certain professions (e.g. finance) may be restricted.
How much does IVA cost?
Legal and professional fees range from HKD 20,000 to HKD 50,000.
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