Creditors’ Voluntary Agreement is a phrase that is often used, but in fact the official term is Company Voluntary Arrangement (CVA).
A CVA is an arrangement to repay creditors over a set timeframe, usually as long as five years. The amount to be repaid is fixed and is usually less than the full amount owed. A CVA allows the company to continue trading while repaying its debts.
This is an alternative to liquidation and can be considered if the business is still showing strong trading results.
If you think this could be an option for your company you can complete our simple online assessment. This will indicate whether a CVA or liquidation is the preferred option and you will also receive a quote from our experts on how much this will cost. You can then start the company liquidation process online.