Understanding Company Voluntary Arrangements (CVA)
Company Voluntary Arrangements are essentially a “light-touch” form of business insolvency. They were introduced in 1986 and have been in regular use ever since. Currently, they are back in the spotlight as businesses of all sizes try to find a path forward. Here is what you need to know about them. The basics of CVAs […]
What are the concerns over “risky” business debt?
According to the old joke, a banker is someone who will happily lend you an umbrella when the sun is shining but ask for it back the moment it starts to rain. Over recent years, however, the nature of bank lending has become much more controversial than that classic joke would suggest. The ghost of […]
Persistent debtors – the new rules
It was arguably a rather ironic coincidence that notorious payday lender Wonga entered into administration the day before new rules concerning persistent debt came into force (31st August 2018 and 1st September 2018 respectively). Admittedly, these new rules relate specifically to credit card debt rather than to debt in general, but they still highlight the […]
The darker side of debt
Some people like to talk about “good debt” and “bad debt”, the former being debt which is used to be an asset, whether that’s a tangible one such as a house or an intangible one such as an education, while the latter being, for want of a better term, consumer debt, without anything to show […]