bankruptcy

[jaberwocky]

if one opts for bankruptcy,does their employer have a reason to sack them or what action could they take? thank you.

[lilsecret]

There is no legitimate reason why your employer should be made aware of your bankruptcy. Unless you were to default in payment any dues, in which case the Official Receiver may apply to your employer for attachment of earnings. Ie to deduct from your wages any payments which are due.

[lilsecret]

I believe that an employer would certainly take no dismissal action as a bankruptcy has no bearing on your ability to continue working in a satisfactory manner.

[hc4361]

That is not true. If you work with money or in a position of trust, it is probably a condition of your employment that you notify your employer of bankruptcy.

http://www.bankruptcy...-my-employer-informed

Is my employer informed?
In most cases your employer need not be informed; however certain jobs hold bankruptcy restrictions and would advise that you obtain information from your contract or HR department to whether a bankruptcy will affect your employment.

[bednobs]

mr bednobs works in a job where he has to have advanced vetting by the government - he would have to tell them and i'm not entirely sure he would keep his job

[Trotbot]

My contract is clear - I would be sacked for becoming bankrupt

[cassa333]

There are some jobs that do not allow bankrupts to be employed. I don't know what they are but banking comes to mind as an obvious one.

I always thought that policemen and doctors weren't allowed to be bankrupt but I don't think that now as my former employer was a doctor and one of his business went pie up and he still has a nursing home and his doctors practice.

[lotsafun]

blimey hell trotbot, talk about kicking a man when hes down. First you lose everything through bankuptsy and then your job! you wouldnt think they would be allowed to do that, im really shocked by that

[joggerjayne]

Your employer has to be notified, because your income during the period of bankruptcy becomes the property of the Official Receiver or Trustee in Bankruptcy. The employer must pay the income to the TinB who will provide the debtor with a living allowance, and pay the rest to the creditors.

[horselady]

A colleague of mine was made bankrupt and he had to move from the finance division to another department, but he was not dismissed from the company.

[Bankruptcy]

It depends on your employment contract. You are best to have a quiet word with your HR department. See the how to go bankrupt guide here.