Dealing with cashflow issues is one of the most difficult times for any company. Having to continually communicate with suppliers and HMRC whilst moving around funds and chasing late payments from clients can not only absorb the time of directors, but it can also impact the ability of a company to content for commercial opportunities further compounding problems.
One resolution to this situation is a company voluntary arrangement or CVA. This formal insolvency procedure allows you to consolidate all your existing debt into a single amount, then following a successful round of negotiations with your creditors a monthly payment is agreed to resolve the outstanding liabilities.
To successfully implement a CVA you’ll need the full support of a licensed insolvency practitioner. With McTear Williams & Wood on your side you’ll be able to achieve a fast and simple result to support your business’s goal to return to profitability and secure a financial future.
How it works
Demonstrate the means - it is necessary for your business to show that it has the ability to meet monthly repayments – but how much and for how long? We have the experience to know what works.
Working with creditors - we act as an independent third party aiding communication with your creditors in order to secure their consent.
Legal and accounting obligations - in order to obtain support for a CVA you must be fully transparent and our expertise ensures that you are set up correctly to work with these procedures.
Act now for the optimal result. Fast action gives you more time and flexibility with your creditors.
Find out more from a meeting with one of our experts who’ll be able to discuss a CVA at our Bedford offices, detailing all the benefits of this procedure. Get your business back on track today.