Fast Track Voluntary Arrangement

A Fast Track Voluntary Arrangement (FTVA) is a legal process that helps individuals struggling with debt to make a repayment plan to their creditors without going through bankruptcy. It allows a debtor to propose an arrangement, often involving lower payments over a shorter period. If accepted by the creditors, the FTVA gives the individual protection from legal action while they pay off their debts. This route is generally quicker than traditional arrangements and is designed for those with fewer debts, making it a more accessible option for managing financial difficulties.