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Yes – this is the whole point of entering in to a CVA. Before the arrangement starts however, you must be sure that there is sufficient money (or funding) available to keep up to date with your current bills as well as making the necessary payments in to the CVA. We will advise you about this before the CVA

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.