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CVAs
Suitable when an event, or a series of events have led to a serious cash flow shortage, resulting in company debts building up, which it can not afford to pay back in full.
A CVA
A CVA is a viable option where there is a strong commercial business, but the company has come across some unfortunate times. This option will give you time, space, and legally protects you from creditor actions. It will preserve jobs, assets and investments, whilst easing financial pressure.
A CVA is a legally binding agreement between a company and its creditors, whereby the Company agrees to repay a fixed monthly amount, over an agreed period of time. The payments need not be 100p in the £ and the balance is written off.
If you enter into a CVA, the debts are frozen. The creditors cannot threaten your business with statutory demands or other legal action. The company places a legal ringfence around itself in respect of its outstanding debts, giving it time and space to move forward.
How we help
HJS Recovery will undertake an assessment of your business, and help you to identify the reasons for the financial state of the company. We will then work with you to put together a detailed proposal for your creditors. The CVA has to be affordable for your company, so we will be realistic in terms of what you can afford going forward.
The proposal is then sent to all your creditors, inviting them to a creditors meeting. Provided at least 75% of the creditors that vote agree to the proposal, then the CVA will bind all the creditors regardless of whether they were present or represented at the meeting.
Once you are in a CVA, you will need to meet the monthly payment obligations. HJS Recovery will work with you to structure the CVA so the business has the best possible chance to survive.
Call now on 0800 0141 130 to arrange a free, confidential meeting to see if a CVA is the best solution for your company.
HJS Recovery helped me sort out my crippling debt problems with both professionalism and kindness. Never judgemental, they agreed a repayment with my creditors that I could afford and now I am completely debt free.
Mr B from Bournemouth
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Registered in England No. OC364606
Registered in England No. OC364606
