Placing a company into a CVA sounds like a scary and difficult thing to do, but in reality it is usually very straightforward and hassle-free. The problem is that even the most realistic directors do not give much thought to what would happen if their company faces closure.
Forward-thinking and effective business planning is vital, but there are all sorts of reasons why a CVA will help a company to continue to trade and move forward whilst its debts are effectively frozen and dealt with by a team of experts at CVA-specialists.
So what should directors know about CVA’s? Actually, those who manage their business correctly and have proper business practices in place do not need to know a great deal about CVA’s. The main thing they should be aware of is that if a CVA becomes an option then expert advice is vital. So long as they recognise the importance of seeking assistance, directors should not have to worry about the intricacies of the CVA process.
“We have experts who know the process inside-out, so directors do not have to worry about the rules and regulations,” explains Lyndon Ogden, Director at CVA-specialists.
“So long as directors know to come to us for assistance as soon as they face creditor pressure and potential insolvency that is the main thing.”
In fact, directors whose companies go into a CVA are free to continue to run their business as they see fit without the hassle of dealing day to day with pressing creditors. Those annoying phone calls chasing payments will cease overnight. Directors are often amazed how much more time they have to plan for the future and to implement changes that they have only dreamt of doing before.
In effect, a director can start a company CVA online having gained advice from the experts, and then he is free to concentrate on moving the company forward in a positive direction whilst CVA-specialists deal with the negative factors such as phone calls from suppliers and HMRC.