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Well not necessarily. Your family home may be at risk and steps must be taken to clarify the position during the a 3 year period following bankruptcy. The position will vary dependent upon a number of issues including for example;  whether you rent your home or own it, whether you own your home jointly with someone else, and whether or not the property is subject to a mortgage. There is no one universal answer; you need to be aware of your rights and those of any joint owner, so we would

Company Voluntary Arrangement (CVA)

Alternatives to liquidation

Remember that formal insolvency processes are complicated, and the explanations below are only the tip of the insolvency iceberg!

A Company Voluntary Arrangement (CVA) is a legal agreement between a company and its creditors. The process normally involves the creditor agreeing to write off some of their debt.

Three quarters of any unsecured creditors must agree to any terms proposed by the company. In turn, the creditors can also suggest modifications to the terms proposed.

Normally a  CVA is proposed by a company when it is looking to write off part of its debt, or it is looking to pay off its debt over a number of years.

To find out more about how we can help please call either Carol, Jackie or Jeanette on 01768 864466.