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Well not necessarily. It’s true that when you are declared bankrupt or enter into an Individual Voluntary Arrangement, then this goes on public record in the Individual Insolvency Register. But the days of the advert in the local newspaper are long gone. The people that will get to know are obviously all of your creditors (which can include the bank , the mortgage company or your landlord) and you need to be careful if you work in any kind of job which requires a licence or some sort of
FAQ's

I trade through a limited company so that means my personal assets can’t be touched – right?

Wrong. There are a number of common scenarios where a director’s personal assets may be at risk if a company falls into some sort of formal insolvency procedure. The most common ones are continuing to draw dividends from a company long after its profit reserves are exhausted, or trading on for too long after it’s clear that the company has no reasonable prospect of recovery.

The most important word in the above paragraph is “may”.

This is a complex situation and you therefore must speak to us as soon as you start to run into financial difficulties.