CVAs – Help is available for your business

If your company is struggling with cash flow problems and your finances and are struggling to pay your creditors then the faster you act the easier it will be to find a solution.  A company voluntary arrangement (CVA) is an agreement with the individuals and companies to whom you owe money where an agreed payment plan is reached. The CVA agreement once made is fixed and allows a company to pursue a route which allows it to continue trading and hopefully reach a point in time when it is debt free.
There are a number of payment options for any agreed CVA payment plan, but they can involve monthly payments or even a lump sum payment if the cash can be generated.
The key to a successful CVA is looking to help from the professionals (as there are stipulations involved in these agreements) and seeking help as early as possible if your company is experiencing financial problems.  The worst thing you can do (just like any individual experiencing debt problems) is to “bury your head in the sand”, debt management and resolving debt issues requires a business/individual to be pro-active and to deal with the matters at hand and as mentioned before seek help from the professionals.

A company voluntary arrangement offers your company a potential opportunity to form a plan with your creditors where the amount repayable is fixed and your company will know exactly what needs to be paid back and at what time.