Cashflow problems are not unique to any business. Problems with creditors ranging from slow payment of invoices to pressures from HMRC can absorb the attention of company directors and even impact the organisation’s ability to consistently perform at the high level necessary to secure new contracts.
One helpful way of resolving such issues is a company voluntary arrangement ("cva"). With the help of a licensed Insolvency Practitioner this procedure allows the business to consolidate all its debt into a single amount and then following a successful negotiation with its creditors this can subsequently be serviced by regular monthly repayments.
McTear Williams & Wood is ideally placed to help you through this process. Having worked with numerous businesses positioned in a diverse range of sectors we have a considerable experience helping companies achieve a smooth, quick and simple arrangement with their creditors giving them the time and space to return to profitability.
How it works
Demonstrate the means - it is necessary for your business to show that it has the ability to meet monthly repayments, but for 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.
Talk to one of our senior advisors and discuss all the implications of a potential CVA at our Southampton offices. We’ll be able to update you on all the benefits of such a procedure for both you and your creditors. We do recommend, even at this early stage, that you act quickly and decisively to obtain the best result for the future of your business.