A recent question by email to me was: How will bankruptcy affect my employment options?
This is a good question but one that is hard for a trustee to answer by virtue of the numbers of jobs and types of employment available. There is no way a trustee could know if bankruptcy would affect every type of job that is out there.
What we should tell you is that some fields of employment and some jobs require that you are not a bankrupt. This might mean that you cannot file for bankruptcy while you have that job or you cannot take employment for a certain job if you are bankrupt. Most of those jobs would mean dealing with money or having some type of trust capabilities that are necessary in the job.
For example, a lawyer who is self employed and handles their own trust accounts cannot be bankrupt and deal with those trust funds. It used to be very difficult to get a job in any casino if you were not discharged – now if you are working for a casino and file for either bankruptcy or a proposal you must disclose the information to them immediately. Many types of accounting jobs will not allow you to work if you are bankrupt. I once had a student who was refused a scholarship because she had filed for bankruptcy.
If you are in a financial situation where you are looking at personal bankruptcy, a better option might be a consumer proposal. But the first step is to take a look at what the requirements for your job are and know how an insolvency (this means bankruptcy or proposal) might affect it. If you are planning a career in a certain field, also review the requirements before filing. Then come to see us at Hoyes, Michalos & Associates to discuss your situation and set up a plan that will allow you to continue without problems in your chosen employment.