Martin Watson, vice-chairman of HUST, has spoken to BBC Hereford and Worcester about Hereford United going into a CVA.
At the High Court earlier today, a seven day adjournment of a winding up order brought by former manager Martin Foyle was agreed after it emerged that the club was considering a payment plan.
"For any proposal it's 75% of the value of the creditors, not the individual people or companies, but the total value to agree to it," said Watson.
"The agreement would then become a legally binding document.
"But the one thing that is an issue for the football club is that league rules state that 100% of creditors must be paid back.
"The figure brought up by Tommy Agombar is £1.3M. If you get about £325K of that turning it down, then there isn't going to be an agreement.
"HMRC are owed at least £100K, Martin Foyle's figure is around £150K, other football creditors are around £150K so you are looking at a agreement being quite difficult."