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Applying For A CVA (Company Voluntary Arrangement)
There are a lot of companies, both large and small, that are being faced with seemingly insurmountable issues because of the stalled economy. One way in which you can see your company make it through this financial uncertainty is through a Company Voluntary Arrangement or CVA. You would want to look at this avenue especially if you are having issues making your company viable after suffering financial difficulties. One of the nice features about a CVA is that it allows business owners get back to running their business, allows employees to be productive instead of worrying about impending job loss and keeps creditors at bay.
IVA (Individual Voluntary Arrangement) Help & Advice
An Individual Voluntary Arrangement, or IVA, is a financial agreement which legally binds both you and the entities you owe money to. Depending on how you are holding up financially, and how much you still owe on your debt, the amount of your payment may vary. The length of time you are allotted to pay the amount back can last for up to five years. After you complete the full term of payments the rest of the debt you owe is then considered to be legally settled.
Applying For An Individual Voluntary Arrangement
An IVA is an Individual Voluntary Arrangement, which is a formal agreement you make with your creditors. They are arranged through specialist companies and are an agreement you make to pay a certain amount of money to your creditors for a set period of time. Once this amount of time is up any debt you still have is written off completely.