Crosswords1 min ago
Bankruptcy query
4 Answers
The person concerned applied for and was made bankrupt in June 2008 and was discharged in November of the same year.
Are there any restrictions on the employment they can take on - i.e can they work in finance, payroll or any other money-related fields?
Would any potential employer not employ them because of the bankruptcy? If so, would this include public and private employers, or of any particular type? How long would any restrictions/ effects last for?
Any help and further info would be greatly appreciated. TIA x
Are there any restrictions on the employment they can take on - i.e can they work in finance, payroll or any other money-related fields?
Would any potential employer not employ them because of the bankruptcy? If so, would this include public and private employers, or of any particular type? How long would any restrictions/ effects last for?
Any help and further info would be greatly appreciated. TIA x
Answers
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From your post this appears to have been a completely straightforw
19:35 Mon 05th Jul 2010
From your post this appears to have been a completely straightforward case with no bankruptcy restriction order or undertaking. If so, there are now no bankruptcy restrictions on employment or on anything else.
However, it is - as always - up to the potential employer who they employ to do a particular job. It is possible that some employers might insist on doing a Credit Reference Agency (CRA) check before offering a job which involved what they might see as sensitive work (eg handling cash, payroll, investments). The bankruptcy remains on CRA records for 6 years so might lead to a job offer not being made. Also, some application forms might ask whether the applicant has been bankrupt; if this is answered incorrectly & subsequently found out it would almost certainly result in loss of any job on the grounds that it had been obtained by misrepresentation or fraud.
I believe there may be some professions - eg accountancy, financial adviser - where rules apply that might prevent membership of the professional body to a bankrupt & possibly an ex-bankrupt.
My personal view is that most people (but not all) who go bankrupt are doing so in a genuine effort to rid themselves of debt and move their life on, & they should not be disadvantaged as a result in seeking employment. But in any individual case it is a matter for judgement by the potential employer - who has to decide whether the applicant is genuine or not.
However, it is - as always - up to the potential employer who they employ to do a particular job. It is possible that some employers might insist on doing a Credit Reference Agency (CRA) check before offering a job which involved what they might see as sensitive work (eg handling cash, payroll, investments). The bankruptcy remains on CRA records for 6 years so might lead to a job offer not being made. Also, some application forms might ask whether the applicant has been bankrupt; if this is answered incorrectly & subsequently found out it would almost certainly result in loss of any job on the grounds that it had been obtained by misrepresentation or fraud.
I believe there may be some professions - eg accountancy, financial adviser - where rules apply that might prevent membership of the professional body to a bankrupt & possibly an ex-bankrupt.
My personal view is that most people (but not all) who go bankrupt are doing so in a genuine effort to rid themselves of debt and move their life on, & they should not be disadvantaged as a result in seeking employment. But in any individual case it is a matter for judgement by the potential employer - who has to decide whether the applicant is genuine or not.
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