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Thursday, 11 February 2010 13:55

Which Professions May Be Affected By Bankruptcy?

Written by  Jon
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Which professions may be affected by bankruptcy?


Bankruptcy can affect people who work in the financial services industry.

Many employers such as banks and building societies stipulate that you are not allowed to go bankrupt whilst you're in employment with them. Failure to adhere to their terms and conditions may result in the termination of your employment.

Whilst you're undischarged from bankruptcy, you are not allowed to be a company director.

It is always best to review your employment contract if you have one or have a private chat with your personnel department if unsure if bankruptcy impacts your job.

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If you have a serious debt problem, bankruptcy can free you from your debts within 12 months. As a solution for dealing with serious debt, bankruptcy is a last resort. Other debt solutions need to be explored first, to help determine if bankruptcy is the right debt solution for you.


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