Jobs After Bankruptcy

Bankruptcy can influence virtually every aspect of your life. While it isn’t necessarily a bad thing, and can give you a chance to rebuild. Finding jobs after bankruptcy is also straightforward for most people, but there are some restrictions you may not be aware of.

You may be able to keep your existing job, or you may want to choose a new career altogether.

Can I Get a Job After Bankruptcy?

Most jobs are available to you after bankruptcy, but there are some exceptions. For instance, you cannot work in certain jobs that involve handling money, or your financial responsibilities in a company may be diminished.

Careers this can impact include:

• Solicitor roles where you look after people’s money.
• Financial services jobs.
• Bank jobs.
• Accountancy jobs.
• Broker jobs.

Here are some other examples of jobs that may be off-limits:

• Working as a director of a company (you can become one again eventually, the prohibited period can be 12 months up to 15 years).
• Being a trustee of a charity.

Can I Be Self Employed After Bankruptcy?

Yes, you can be self-employed after bankruptcy. You might find it difficult to get business loans because of your credit score, but running your own business is still a possibility.

If you run a business under a different name after bankruptcy then you need to tell relevant parties who you are doing business with that you are going through bankruptcy.

Do I Need to Tell Potential Employers About Bankruptcy?

If you’re asked about your bankruptcy on a job application then it is best to tell the truth. This will usually only be asked in certain positions. The same is true for job interviews.

However, if you don’t mention it and your employer finds out later, this isn’t usually grounds for dismissal.

For most jobs, declaring bankruptcy won’t have a big impact and employers are more interested in your skills and experience. Check your employment contract and see if it says anything about you having to communicate to your employer if you go bankrupt, as it is possible that you will be expected to.

There are some jobs, as we’ve seen, where bankruptcy may be an issue but for the majority of occupations, it won’t make a difference.

If you’re worried about declaring bankruptcy on a job application or in an interview, Citizens Advice can provide more information about your obligations.

Finding a Job If You Are Bankrupt

It is possible that you might want to change your job entirely after bankruptcy and there are many options to retrain.

You can also find career change jobs here on our jobs board, giving you the opportunity to get straight back into work and begin to rebuild after a difficult experience.