Cooper Matthews, a leading provider of business debt advice and solutions for small to medium businesses requiring financial advice, comment on the benefits of a Company Voluntary Arrangement for a business struggling with debt.
Cooper Matthews is a leading business debt rescue service company that can provide a variety of business solutions which can help a company avoid financial issues which may result in business insolvency or increased arrears.
Cooper Matthews recently commented on the benefits of a Company Voluntary Arrangement (CVA) between an organisation and their creditors. A CVA will require a company to make fixed repayments to their creditors that are lower than their outstanding debt. Each repayment will be calculated on a monthly basis and will depend on how much the company can afford to pay periodically; therefore, a debt will be cleared if a company has not finished the repayments by the end of an agreement. In addition, a CVA will prevent a court case and this will enable a business to continue with their day to day operations, remove debt burdens and the directors will be allowed to remain a central aspect of the organisation.
A spokesperson for Cooper Matthews commented: “The recent recession has ultimately forced numerous organisations into administration and many other companies may be struggling to recover from the economic downturn. We are incredibly passionate about delivering a variety of business solutions to ensure a company can recover from their financial difficulties. If a company is worried they may receive a winding up petition or a court summons from their creditors, they should consider a Company Voluntary Arrangement which can help them pay reasonable debt repayments on a monthly basis.”