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 Will having been bankrupt affect jobs in financial sector ?

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T O P I C    R E V I E W
Sarah.12 Posted - 24 June 2011 : 07:19:24
Hi all, I haven't posted for a while on here, but 2 weeks ago I received a letter from the IS asking us to complete IPA forms to be considered for early discharge :) extremely happy about this as was totally out of the blue... on the other hand tho, has been recently announced in work that my team is being disbanded and 15 jobs are to be lost leaving 5 FTE jobs.. I have completed my profile form and will find out in mid august if I am successful or not.. What I am worried about is that I currently work for the financial services, had permission to go bankrupt with advice that I wouldn't lose my job if I did. If I do get made redundant, early discharge comes thru, does anyone know if being a BR discharge will affect me applying for other jobs in the finance sector..... Worried now that we finally got over this hurdle for a bigger one to be put in it's place.
5   L A T E S T    R E P L I E S    (Newest First)
Almost Free Posted - 24 June 2011 : 19:43:51
Sorry, I have 2 user ID's on this forum as didn't know how to change my name, so i'm using Almost free and Sarah12
Almost Free Posted - 24 June 2011 : 19:42:43
I currently work for Blackhorse, I didn't go bankrupt until I had permission from them and a guarantee that I wouldn't lose my job. Now 6 months into the bankruptcy it looks like I may well be made redundant which is why I'm worrying as all I have ever worked in is the finance industry so this is where my experience is....
Tifosi1 Posted - 24 June 2011 : 17:59:45
Hi Sarah

I am an accountant and went bankrupt back in 2008. My employer, an accountancy practice, was not informed by the OR but I did feel obliged to tell them myself and they did not have a problem with it.

I was made redundant last year and have since found work as an accountant again without any problem, even in defence & aerospace where I needed security clearance (again I was upfront with my bankruptcy).

From what I understand from asking the same questions myself, I have been told that bankruptcy only causes a problem if you apply for jobs in the financial services such as banks, etc

If you were already working in the financial services industry and they did not let you go when finding out that you were bankrupt then I doubt that you have a problem going forward when applying for new roles.

I actually contacted the OR that dealt with my bankrupcty recently to ask if I had to inform all potential employers when applying/interviewing/accepting new jobs that I had been bankrupt and the OR informed me that as I am discharged I do not need to inform any one and only have to tell them if they specifically ask if I have been bankrupt in the past.

Hope this helps
Blackie Posted - 24 June 2011 : 08:59:11
Hi Sarah.12

Unfortunately certain jobs in the finance sector may be unavailable to you as a discharged bankrupt- for up to six years. You are still eligible to apply for them but some application forms may ask you if you have ever been bankrupt or bankrupt within the last six years. Also if any prospective employer was to carry out a credit check, it will show on that of your bankruptcy.

Hope this helps

John Blackadder
Bankruptcy365

For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk.
Niobe Posted - 24 June 2011 : 07:34:53
Hi Sarah,

I think some jobs are affected by bankruptcy, not sure which ones though. Hopefully one of the experts can help.

I have everything crossed that you will be ok.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx

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