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Business Recovery

CVA - Creditors Voluntary Arrangement

For CVA (Creditors’ Voluntary Arrangement) talk to us to understand if this is the right route for your business. Call us on 0330 053 6790.

What is a CVA?

A Compulsory Voluntary Arrangement, also known as a CVA is legally binding agreement with the people you owe money to (Creditors). The agreement allows you to repay a proportion of your debts back over an agreed period of time.

The repayments are made as installments, often monthly, or as lump sum amounts. The repayments are usually a proportion of the debt owed and can be as little as 40-50% of what is owed.

To enter into a CVA at least 75% of your creditors have to agree to the proposal. Once the proposal has been agreed, all unsecured creditors are bound by the arrangement and no further action can be taken against the company. The company can then carry on trading as normal with the Directors in control of operations.

CVA’s arrangements usually last for 3-5 years and during this time the agreement is monitored by a licensed insolvency practitioner.

A CVA can be a really good option to enable you to continue to run your business, whilst managing your creditors. Mounting debts and aggressive creditors can be extremely stressful and can take up a huge amount of your time, which in turn leaves you with less time and energy to actually turn your business around.

It is a big decision to enter into a CVA , as it carries long term consequences for the company and all company Directors, so it’s vital that you receive expert advice to ensure that a CVA is the right action for you and your business.

What are the benefits of a CVA?

Is a CVA right for me?

It is important to get expert advice to ensure that a CVA is right for you. Call us or email us for an informal chat. 0330 053 6790,

There are also other alternatives that our experts will be able to advise you on, depending on the severity of the situation. For further information, please see our information on Liquidation and Pre- pack Administration

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QR Limited trading as QR Ventures
A17 Astra Office Suites, Astra Business Centre, Roman Way, Ribbleton, Preston, PR2 5AP

Registration Number: 04288323. Registered Address: A10 Astra Office Suites, Astra Business Centre, Roman Way, Ribbleton, Preston. PR2 AP. 

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