Professional Hong Kong Debt Restructuring Services

Our One-Stop Services
We offer a full range of debt restructuring HK solutions

A lot of people in Hong Kong have heavy financial burdens. Being laden by an array of personal loans, balance transfer loans, student loans, tax loans, commercial loans are very common, which they often borrow from an assortment of banks and financial institutions. When your debts keep piling up, the debt repayment pressure can even exceed your repayment ability and start affecting your normal life.

When it comes down to these types of desperate situations, most people may consider filing for bankruptcy. However, bankruptcy is not a simple matter, and leaving a bad record on your credit profile as well as affecting your personal reputation or professional standing.

Hong Kong Professional Debt Relief Centre provides a number of debt restructuring plans that can help individuals or companies to formulate flexible repayment plans and ease their debt issues.

Our Services

We offer several solutions

Individual Voluntary Arrangement (IVA)

This serves as one of the more common debt restructuring plans. It is a method that can effectively help you avoid filing for bankruptcy. The debtor will not be restricted by any rules or leave any records of bankruptcy, and they are still allowed to work in some sensitive industries or professional fields, such as Disciplinary Services or even Financial Institutions.

This method allows you to continue to be in control of your own bank account, although you are still responsible for paying off all the debt. In contrast, under bankruptcy, you can wait until your bankruptcy period comes to an end, and all debts will be written off. However, this voluntary arrangement will still affect your credit scores, but it is better than filing for bankruptcy based on all considerations.

Debt Relief Plan (DRP)

This is another common method of debt restructuring in HK, which is said to be a simplified version of the previous voluntary arrangement. The debtor is free to make mutually agreed and feasible repayment plans with the creditors. The difference is that this must be arranged through a nominee or intermediary, but the advantage is that pursuing this method does require the need to go through any legal procedures. You can simply seek and handle directly by yourself and directly repay the creditor. Also, the debtor can enjoy daily expenses while the debt is serviced according to the agreement.

Interbank Debt Relief Plan (IDRP)

This method is relatively more convenient than the previous mentioned method, specifically, you only have to discuss and formulate a feasible repayment plan with the largest creditor on hand. When the largest creditor agrees to the plan, and other creditors have no objections, the largest creditor will unify and consolidate all outstanding debts. The debtor merely needs to adhere to all the repayment terms listed in the agreement that are amortized to the largest creditor in the form of a fixed interest rate.

Benefits of Debt Restructuring Plans:

Debt restructuring plans can usually reduce loan interest by a significant margin, extend the debt schedule, while making sure that the debtor can efficiently settle the repayments within a limited period of time. These plans undoubtedly increase the debtor’s chances of repaying debts and avoid the need of writing off bad debts by creditors.

Of course, creditors will know that if the debtor is forced to file for bankruptcy, they may get nothing in return. Therefore, debt restructuring plans provide a win-win situation for all parties involved. Not only does the debtor avoid the need to file for bankruptcy, but the creditor can also collect on their outstanding debts.



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