Does bankruptcy affect my employment?
You are bankrupt and you believed you were unfairly dismissed from your job without any reasonable cause or following due process. If you are qualified to make a claim, then do so.
Generally speaking, going bankrupt should not affect your employment. However, this is not always the case as there are professions, trade or business that restrict bankrupt individuals from working with them. Discuss this matter with your bankruptcy attorney.
- You are employed in a role that involved financial matters such as bank or financial institutions
- You are an insolvency practitioner
- You are employed in a regulated profession that require you to be licensed or registered like accountant, lawyer
Even if you don’t lose your job, you may realize that bankruptcy creates problems in your employment in the process
- You may find it difficult to get future job in civil service, police or security agency
- You are a business owner, a trader but getting credit to run the business is pretty tough. The bankruptcy trustee will take over the right to your business, and soon the business will close down.
Bankruptcy attorney Moreno Valley Ca can further explain to you that going bankrupt also place certain restrictions on your affair in running a business. Break any of these and be ready to face criminal charges.
- You can’t hold a position like company director without court permission
- You can’t get involved in setting up, promoting or managing a limited company without court permission
- You can be self-employed or trade in partnership different to the one in which you were made bankrupt, but tell everyone you are working with the name of the business which you were made bankrupt.
It’s important to find out if your job is affected before you go bankrupt. Seek advice from bankruptcy attorney near me.