Leeds, United Kingdom (17 December 2010) – Cooper Matthews, a leading provider of business debt advice and solutions for small to medium businesses requiring financial advice, are now offering Company Voluntary Agreement (CVA) services with no fee upfront.
A CVA is a legal arrangement between a company and its creditors, which involves the company repaying a fixed amount that is lower than its actual outstanding debt. The repayments are calculated monthly, based on what the business can reasonably afford. Any remaining debt is written off at the end of the agreement, with typically around 45% of business debt being cancelled during the course of a CVA.
CVAs could be an ideal solution for companies that are suffering with cash flow problems and coming under pressure from creditors, but whose directors believe they still have a viable future should they be able to navigate through these rough waters. A CVA can also be preferable for creditors, as what a company can afford to pay often amounts to significantly more than what would be received if that company were to go into liquidation.
Cooper Matthews are able to provide initial consultations free of charge, which in most cases will involve a review of the business to establish its full financial state and identify possible solutions. Should it be decided that a CVA is the best option, future insolvency practitioner fees will be deducted from the pre-agreed standard payments, thus making it very rare that directors will need to find additional money beyond the company’s limit.
“By providing CVAs without any upfront payment, we hope to encourage more businesses experiencing financial difficulties to consider a company voluntary agreement as a viable solution to their problems”, commented a spokesperson for Cooper Matthews. “CVAs are designed to allow directors to continue running their business as normal, with a view to improving their position with creditors, prevent court action or a winding up order, and ease cash flow pressures by allowing businesses to continue to trade.”
For more information about Cooper Matthews and the CVA services they provide, visit their website at http://coopermatthews.com/ or telephone 0800 8 40 40 42.
Copper Matthews is a provider of business debt advice and solutions for small to medium businesses experiencing financial difficulties. They are committed to employing a whole market approach in order to identify and deliver the right solution for individual business needs, and, if necessary, are able to assist throughout the liquidation process.
Cooper Matthews Ltd – Head Office,
1a Ash Lane Business Park,
Tel: 0800 8 40 40 42
Fax: 0113 320 5678