What Is the Status of an Overdrawn Director's Loan Account?

An overdrawn director's loan account occurs when a director withdraws more money from a company than they put in, disregarding dividends and pay. To avoid any personal concerns for the directors, it is critical that all corporate accounts are properly maintained. If you have any doubts about the status of your DLA or the circumstances of your company's insolvency, get professional counsel from a company like 1st Business Rescue.