Company Voluntary Arrangements
A Company Voluntary Arrangement (CVA) is an agreement between an insolvent company and its creditors which allows a company to pay back a percentage of their debts over an extended period of time. If your creditors agree to a CVA proposal, your insolvent company can pay creditors over a fixed period of time whilst continuing to trade. Typically, the agreement consolidates your company's debts into a single monthly payment until you have paid the debt off. The process can improve your company's cash flow and make trading easier, giving your company a fighting chance to survive.