Can we take out an individual voluntary arrangement (IVA) for paying off debts ?
Fatawa Question
I have a huge amount of debts and I am considering taking out an IVA plan even though I can make the payments to the companies, Is it permissible for me to take an IVA which means I will not pay back all the money I owe to the creditors which means up to 60 % of debt could be wiped off ?
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2015-10-22
Country of Publication
United Kingdom
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726988
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2015-10-22. Can we take out an individual voluntary arrangement (IVA) for paying off debts ?. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726988
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). Can we take out an individual voluntary arrangement (IVA) for paying off debts ?. Manchester England : al-Qalam Shariah Scholar Panel. 2015-10-22.
https://search.emarefa.net/detail/BIM-726988
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2015-10-22. Can we take out an individual voluntary arrangement (IVA) for paying off debts ?. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726988
