The vast majority of businesses suffer from some kind of distressed during their lifespan. Cashflow pressures coming from suppliers, credit agencies and HMRC can present a continual struggle with directors engaged in merely servicing the debt and phone calls rather than spending valuable time running the business. However, there is another way. Did you know that it is possible to consolidate all your debt into one single sum of money and to then pay it back in monthly instalments? This is known as a company voluntary arrangement and it could allow you to shake off the shackles of debt and focus on driving profitability.
This agreement needs to be set up by registered insolvency practitioners who will be able to best present your case to your creditors and help come up with a viable plan for repayments. Find out whether or not your debt can be restructured into a company voluntary arrangement at our Norwich offices. Here you will be able to speak to one of our expert advisors who will be able to quickly assess your situation and advise on the best course of action.
Time is critical with a company voluntary arrangement. Whilst there is still liquidity left in your business it is easier to put such an agreement in place, however if the situation is allowed to deteriorate then it may be the case that this option is no longer available to you.
Act now to achieve the best result for your business turnaround. Visit McTear Williams & Wood at our Norwich office to discuss a company voluntary arrangement today. Call us now to set up your appointment on 0800 331 7417