Can I be held personally liable for my company's debts?

As a general rule, a company is a separate legal entity from its directors and shareholders, and its debts belong to the company itself, not to you personally — this "limited liability" protection is one of the core advantages of the company structure.

There are important exceptions, though: if you personally gave a guarantee for a specific company debt (common with bank loans), you can be held liable under that guarantee. Directors can also face personal liability in specific circumstances involving fraud, wrongful trading while insolvent, or failure to comply with certain statutory obligations, particularly if the company's corporate structure is found to have been misused to avoid legitimate liability.

Given the potential complexity, especially if the company is heading toward insolvency, it would be prudent to consult a corporate/insolvency lawyer promptly to understand your specific exposure and the right way to handle the company's affairs going forward, rather than waiting until creditors take more aggressive action.