Company Voluntary Arrangement (CVA)
An agreement that lets a company keep trading while it repays some or all of its debts over time. We help companies and directors in Leeds, Sheffield, Bradford and across Yorkshire and the UK.
Please note: this page is a brief, general overview to help you understand your options. It doesn’t cover every detail or every possible route, and it isn’t legal or financial advice. Every situation is different, so please talk to us before making any decisions.
In short: an agreement that lets a company keep trading while it repays some or all of its debts over time.
A CVA is a formal agreement between a company and the people it owes. The company keeps trading and pays an agreed amount, usually monthly, for a set period. When the CVA ends, any remaining debt it covers is usually written off.
It can work well for a business with a good future that is held back by debts from the past.
What happens
- We help you put together a proposal showing what the company can afford to pay, and for how long.
- Creditors vote on the proposal. It goes ahead if enough of them agree, usually those owed at least three-quarters of the money.
- Once agreed, it applies to all the creditors it covers, including those who voted against it.
- A licensed insolvency practitioner, called the supervisor, checks that the company keeps to the agreement.
Things to know
- A CVA suits a business that can make regular payments and has a realistic plan to recover.
- Creditors are only bound once the CVA is approved. Until then, they can still take action to recover what they’re owed.
- Lenders with security over the company’s assets keep their rights unless they agree otherwise.
Other options
Company Voluntary Arrangement (CVA) isn’t right for everyone. These are the other corporate insolvency options, or you can compare them all.
What our clients say
Facing my financial position was overwhelming, but Conselia provided me with clear guidance and support. They were professional, approachable, and always explained the process in a way I could understand. Thanks to their expertise, I was able to regain control of my finances and start fresh. Highly recommended!
IVA client
I can’t thank Conselia enough for helping me through such a difficult period. Their team was understanding and completely non-judgmental, providing solutions tailored to my situation. They made what felt like an impossible challenge manageable.
IVA client
From our first conversation, Conselia made me feel reassured and in safe hands. They handled everything efficiently and were transparent about every step. I now have peace of mind and a clear path forward, and I’m so grateful for their support.
Company director
Dealing with insolvency is never easy, but Conselia turned a stressful situation into a manageable process.
Company director
I was hesitant to seek help, but Conselia put my mind at ease right away. Their professionalism, knowledge, and understanding were second to none.
Company director
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