Tip! Your creditors can not change their minds at a later date From the date of approval of your Arrangement all interest and charges are frozen. Unlike bankruptcy there is no advertisement of the IVA in a local paper.

During the 2005 Atlantic tropical hurricane season there were many bankruptcies from small businesses and individuals who could not pay their bills. All along the Gulf Coast, New Orleans and many people in Florida had lost everything including their jobs, their homes and had no way to support themselves or pay the bills.

Luckily FEMA was able to come forth with monies, but generally it was not enough for them and the checks came too late. Anyone who is ever done business with the government of the United States of America knows that they never pay their bills on time for services rendered and it should not be surprising that FEMA did not cut checks to the people in their time of need in the aftermath of hurricane Katrina.

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