Company Voluntary Arrangements

• A CVA can be proposed by the directors of the company or an Administrator.
• The procedure is administered by trained administrators.
• A revision of the company and where it stands in the current market is made.
• The proposal is then debated between the directors and secured creditors.
• After the proposals are complete, a report needs to be prepared by a nominee on the proposals which includes comment on the due diligence they have undertaken.
• This is to ensure that the CVA proposals are correct, realistic and achievable.

• The Company Directors remain in control and continue to trade.
• The company will not incur any further costs or interest as all historic debts are frozen.
• Cash flow through the business will be eased with suspension of payments.
• You will only pay what you can afford which makes the repayment flexible.
• Creditors will have no further power to prosecute.
• Costs saved through non-liquidation, administration or buy back of assets.
• Any existing finance the business has can usually be left in place.
• Court protection for company while creditors consider CVA proposal.

National Debt Advice uses advisers who are trained to give advice on Company Voluntary Arrangements; they can recommend the most appropriate action for your needs – whether that is a CVA or another solution. For more free advice on CVA’s or any other debt related issues, please take a few seconds to fill out the simple enquiry form on this page.