what if i have a job - can i declare bankruptcy while employed? if so, how does this effect my job? what is if have no job and declare? if i find a job post-bankruptcy my financial position changes - what effect does this have?
It really depends on what job you have on whether it would be at risk
Bankruptcy is the same regardless of employment status. However you may have to pay something back each month if you are getting an income from a job and you have a surplus at the end of the month. But you may not if you haven't any surplus.
I suggest you speak to an expert to chat everything through and see what your options are.
You are able to declare yourself bankrupt if employed but your position may be at risk if you are in a finance based environment. There may also be a chance that, if your income was large enough, you may have to pay some of this to the Official Receiver. If you did not have employment and were drawing benefits, it is unlikely that you would have surplus income and you would not have to pay anything to the OR. However I would not suggest that you give up employment to make yourself bankrupt as the bankruptcy may affect your chances of getting employment. Please speak to an expert as there are several options that may be available to you.
John Blackadder
For help and advice on the easiest and most effective way to a debt free future, please telephone me on FREEPHONE 0800 298 0253
Can I declare bankruptcy while employed ?
Posted - 30 April 2014 : 19:50:44
