2 min read
The direct effect
An undischarged bankrupt cannot act as a company director or take part in its management without court permission. Your company is legally separate, but losing its director and any covenant tied to your status can disrupt it.
Working through it
Appoint or empower other directors, tell lenders early, and check loan agreements for clauses triggered by a director’s bankruptcy. Once discharged, you can usually act as a director again unless separately disqualified.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Can I run my company if I go bankrupt?
Not as a director while undischarged, without court permission. The company is separate, but the loss of your directorship and any status-linked covenant can disrupt it.
Does bankruptcy end when discharged?
The bankruptcy restrictions generally lift on discharge, and you can usually act as a director again unless a separate disqualification applies.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.