Ashley Park Debt Solutions

Ashley Park: CVA

The Process

A CVA is a legally binding agreement, usually lasting for 5 years. Under the terms of a CVA a company can continue to operate and generate a profit, whilst creditors agree to accept lower repayments on the debts owed to them.

In order to apply for a CVA you will need to contact Ashley Park Debt Solutions. Ashley Park will then contact the creditors of the company with your CVA application. For a CVA to be accepted, 75% of your company's creditors by debt need to be in favour of the application.

On acceptance of the application, the company will be allowed to continue trading and the Directors will retain control. The company's debts will be restructured so that the creditors will receive regular repayments over the duration of the CVA.

If the application is unsuccessful then you will need to reassess the viability of the company. Ashley Park can help with any further insolvency services you need.

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