MVL - Personal Credit Record Impact

[Tinman]

Hi all
Have been various discussions about whether undertaking an MVL has an impact on one's personal credit record, but no definitive (as far as I can see) answer.

Has anyone who has undertaken an MVL checked their personal credit record after, and if so what was the outcome?

Cheers

[northernladuk]

Had a search through some threads in the link below and I can't see a definitive answer either I am afraid...

https://www.google.co.uk/search?q=mv...hrome&ie=UTF-8

All I can find is one post from Nixon Williams in the thread below in which they state..

http://forums.contractoruk.com/accou...cedures-2.html

Winding your company up through a MVL (Members Voluntary Liquidation) will not mean you will have an adverse credit rating - adverse credit ratings come about due to your inablility to pay your creditors etc.

With a MVL, your company debts are settled in full, so no-one loses out.

Alan

Bearing in mind the number of our well known accountants and legal eagles that have posted in the threads and that is the only comment to indicate it won't I would be seeking further clarification if I had to go through with it. Lots of 'It shouldn't' etc but nothing really concrete sorry.

[centurian]

but no definitive (as far as I can see) answer.

That's because there isn't one.

It shouldn't affect personal credit rating, but as MVL is a matter of public record - any potential lender can judge this information as they see fit - and if they decide it's a negative indicator, tough

So it's impossible to say that it will never be an issue.

[northernladuk]

Ok, searched the web rather than CUK and found these...

Creditors Voluntary Liquidation | FAQs | Company Insolvency

And from Nixon Williams site a great little page about it all and steps etc..

MVL, Members Voluntary Liquidation,

HTH

[Tinman]

nluk/centurian
Thanks for the info./comments.
Will have a look through.