Good Character - British Citizenship (Urgent)

Dear Experts,

Please help me with my query below:

I'm eligible to apply British Citizenship next month and I have a query regarding good character (Finances).

I started a business in November 2019 and the business was hit by Covid lockdown in March 2020 and it never recovered from it, due to which it made huge losses and accumulated debts. Now, after two years of struggling I have finally decided to take my company into liquidation. Also, I was out of the work for about 06 months and have accumulated personal debts on me.

Now, I'm back to the job and working on to improve my finances, so for my personal debts I have setup IVA to make payments to creditors in monthly installments and the company is going into liquidation for it to wind up.

So, please advise if company liquidation and personal debts would impact my citizenship application under good character ? And, if so then what are the best options for me.

You helped me in all my previous applications, so your advice really matters to me.

I look forward to hearing from you.

Best regards,
Raj

Debt in itself is not an issue if you are complying with the arrangements you have made with creditors.
Regarding bankruptcy, liquidations and debt please review the relevant sections in the Good Character guidance.
Not familiar where IVAs fit in. Link: https://www.gov.uk/government/publicati ... y-guidance
Probably best to summarise the facts of the specific circumstances and submit as a covering note with your other documents.

Hi alterhase58, Thank you so much for your quick response and advise.

Best regards,
Raj