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I Have An Individual Voluntary Arrangement – Can I Be A Company Director?

The quick answer

Yes you can still be a company director. 

In more detail

You can be a company director unless you are an undischarged bankrupt or you have been disqualified from being a director by the Insolvency Service. An Individual Voluntary Arrangement (“IVA”) is a confidential agreement between you and your creditors. It does not stop you being a director. 

The IVA will be registered with the Secretary of State and is available to credit reference agencies to search so it does have an effect on your personal credit rating for up to 6 years. The credit agencies do not know the terms of your IVA only that you have entered into one.

tip

If you need insolvency advice the earlier you talk to someone like us the better as you will have more options. We can help, contact us today.

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Author: David Kirk - ACA FABRP
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Just a quick email to say a heartfelt thank you for your very calm, considered, expert advice regarding my circumstances on Tuesday. Things looked bleak before you explained my options much more clearly, in simple layman’s terms.
Rob Elliott (14th December 2021)

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David Kirk

Licensed Insolvency Practitioner