Company CVA is a formal arrangement for a company’s creditors to be repaid whilst it continues to trade. The arrangement is usually in the form of a legally binding agreement. Here at CVA-specialists we will prepare this document using our team of experts.
The legal document will explain the company’s financial position and discuss its plans for a profitable future. It will also recommend that the CVA is in the best interests of the company’s creditors and is their best course of action to get repaid. The creditors will follow this recommendation.
The CVA can last for up to 5 years. During this time the company has no creditor pressure and the directors continue to run the company. Also it cannot be forced into liquidation whilst the CVA is in place.
Company CVA Procedure
As a director your role in the company CVA procedure is clear, straightforward and precise.
Once you are confident that a CVA is the right option you can start the company CVA procedure. You can do this online via our secure website, call our experts or arrange a meeting with one of our team. Either way you will get professional advice on your situation and expert support at every stage.
As soon as the CVA procedure begins your creditors will be unable to take any legal action against the company. They will stop phoning you and we will take over that function and responsibility with immediate effect.
Once the CVA procedure is completed all unpaid unsecured debts after the CVA will be written off. The company will be effectively debt free and therefore on a very strong financial footing.
The regulations regarding CVA’s are complex and comprehensive. They set out what must and must not be done when a company enters into a CVA.
Our experts know the CVA regulations inside and out so you don’t have to worry about reading up on it. We will ensure you understand what a CVA means for you and your company without confusing you with jargon and we will be there at each step should you need further advice or have any questions.
Going into a CVA can be a worrying time and we do not want to make it worse by baffling you with legal speak. You can rely on us for clear, honest advice and a professional service at all times.