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Sunday, 21 March 2010 10:01

When Can You Become A Company Director After Bankruptcy?

Written by  Jon
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How long after being declared bankrupt does it take to become a company director again, i understand it is in the region of 6 years

Would this also apply if a company goes into insolvency?


Bankruptcy stays on your credit file for six (6) years, but once discharged, which usually is within 12 months, you can become a Director. You just cannot be a Director of a LTD company whilst in bankruptcy, once discharged it is OK.

As for business it may be different as they are a separate entity of their own and really do not have a credit report if they go bust. Companies just start out again under a new name. You can inquire with an accountant or Insolvency Practitioner for more information on this.

Thank you for letting me help you.


If you have a bankruptcy question you'd like to ask, just ask using this online form. All help is free.

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If you have a serious debt problem, bankruptcy can free you from your debts within 12 months. As a solution for dealing with serious debt, bankruptcy is a last resort. Other debt solutions need to be explored first, to help determine if bankruptcy is the right debt solution for you.


Your financial affairs are put into the hands of an Official Receiver or Trustee, who will control all your assets - and if you own a property, this will also be included. These will be sold and the money used to pay as much as possible to your creditors.


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