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Partnership Voluntary Arrangement

A partnership that gets into financial trouble can use a Partnership Voluntary Arrangement to restructure its debt and come to a new agreement with its creditors.

The key to a partnership in trouble is to realise you need a Partnership Voluntary Arrangement and get on with doing it.

Quite often the arrangement will involve the individual partners doing their own Individual Voluntary Arrangements.

The usual terms of a Partnership Voluntary Arrangement are:

  • Freezing existing unsecured debts such as PAYE, Business Rates.
  • A monthly regular payment to cover all existing debts over a period of 1 to 5 years.
  • A partial debt write off – so debt being forgiven.
  • No interest.

A Partnership Voluntary Arrangement will be drafted by you with our help as Licensed Insolvency Practitioners. Find out more about voluntary arrangements.

With 25 years' experience of dealing with insolvency
we know its important for us to put you first.
Find out how we
can help you
Insolvency Advice

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