When your business is under cashflow pressures this can absorb the time and energy of any company director. Late payments and demands from creditors will often reduce your ability to complete orders and contend for some of the more profitable contracts in your sector.
A CVA or company voluntary arrangement allows you to negotiate with your creditors and set up a system of repayments to ease the burden of debt. All your liabilities are considered and placed into a single lump sum which is then used to calculate the monthly charge necessary to service the debt.
You will need the support of a registered and licensed insolvency practitioner to help you implement a CVA successfully. With a proven track record of achieving resolutions in creditor negotiations McTear Williams & Wood is ideally placed to help you achieve the best result for your business.
Find out more information about a potential CVA at our offices near Bournemouth where one of our senior advisors will talk you through all the details. You may have more options than you realise however fast action will give you the best chance of successfully implementing such an agreement. Call us on 0800 331 7417
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