Hi,
I am trying to understand what implications being bankrupt in the UK has on a person - people can range from currently unemployed to earning quite a lot (Shane Filan from Westlife etc) but I haven't really been able to ascertain the impacts this has on people currently in "normal" employment.
For example, I have been told that the professional accounting bodies (ACCA anyway) will view each case on its own merits: if someone has acted improperly they may be struck off the register, but if people have been just hammered by timing etc they are potentially going to not remove them. As a result, they can still technically be employed by an accountant firm...but are they still emploayable?
A long winded example - but the thrust is simple: If you are declared bankrupt, will any of the professions / bankers be totally unemployable? Will your current employer be able to fire you if you are made bankrupt?
Thanks,
K
I am trying to understand what implications being bankrupt in the UK has on a person - people can range from currently unemployed to earning quite a lot (Shane Filan from Westlife etc) but I haven't really been able to ascertain the impacts this has on people currently in "normal" employment.
For example, I have been told that the professional accounting bodies (ACCA anyway) will view each case on its own merits: if someone has acted improperly they may be struck off the register, but if people have been just hammered by timing etc they are potentially going to not remove them. As a result, they can still technically be employed by an accountant firm...but are they still emploayable?
A long winded example - but the thrust is simple: If you are declared bankrupt, will any of the professions / bankers be totally unemployable? Will your current employer be able to fire you if you are made bankrupt?
Thanks,
K