A common question I am asked when I am working with people is what are some of the affects of filing bankruptcy.
Questions about their credit report, their house, their car, and their chances at getting another loan are all high on the list. One of the biggest questions, though, is “will my job be affected?â€
The short answer is “no.â€Â The average person can’t be fired from their job because they have declared bankruptcy. Bankruptcy deals with your unsecured debts, not with your employment.
The longer answer, however, is more complicated. Some professions do have rules stating that you can’t be employed in certain jobs if you are bankrupt. Usually these professions have something to do with trust and money. For example, if you are a lawyer who is self-employed and handles their own trust accounts, you may not administer your own trust accounts while you are bankrupt.
Other jobs have similar rules. Certain accounting jobs will not allow bankrupt people to perform them, and in some places, like casinos, you must disclose immediately if you have gone bankrupt.
There are, of course, too many professions and jobs for me to list all of the exceptions when it comes to bankruptcy. If you are considering bankruptcy, you should investigate whether or not your job will be affected. If you are in school, you should also check to see if the job you are training for may be affected.
If your current job or the job you want to have has restrictions due to bankruptcy, there are other solutions available for you. Call me at 310-PLAN for a free consultation to discuss all of your options. You can also email me any questions you might have about bankruptcy alternatives, like consumer proposals or credit counselling. Let’s work together to find the solution that’s right for you and your job.
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