# UK Bankruptcy questions



## Muntjac (26 Jun 2013)

I am from Ireland/living in the UK &  in the process of applying for UK bankruptcy. One thing that concerns me is that the job I have been working at in the UK states in the contract that they reserve the right to terminate without notice employees whom have been declared bankrupt/insolvent.

When the bankruptcy is confirmed in the court, is there a way ones employer could discover this or is it only possible to discover this by doing a credit check?
The position I am working in is as an assistant manager in a large multinational service company, not in the finance sector and not one where I would be required to prepare independent accounts for the business.
Am I obligated to inform my employers when I am declared bankrupt or am I as well to keep quiet?
My wages are supporting my wife and our 2 children, so if I lost this job we would be left without an income.

Also just in regards to possessions, I use my laptop for work & my wife has a few year old desktop pc she uses for skype to stay in contact with the family at home; would the court force us to sell these items as part of the proceedings?
Our joint family income (my wage + her benefits) is under £32k per annum, we run the one car between us (worth less than £1k). The laptop is worth about £400 & the PC £300, they're the only "luxury" items we possess.


----------



## Steve Thatcher (26 Jun 2013)

I would urge you to speak to a trusted manager on this contract point. It has come up a number of times and never has an employer had a problem. I think that being honest about your position and why you are taking this step will all go in your favour. Better to be upfront than be seen as sly.

Your assets are not ones which would interest the OR

Steve Thatcher
www.helpwithdebtuk.com


----------



## munchy (1 Jul 2013)

My understanding is that your bank accounts will be affected. It is only Barclays bank who allow bankrupts to hold an account so recommend you open one asap and have salary transferred into it. If there is 'surplus' cash in your wage packet they may do an IPO and in that case your cash flow is not controlled by yourself - best to check the details., There are some good UK websites with UK bankruptcy info too.


----------



## Jim2007 (1 Jul 2013)

Muntjac said:


> When the bankruptcy is confirmed in the court, is there a way ones employer could discover this or is it only possible to discover this by doing a credit check?



Yes there is a Individual Insolvency Register which can be accessed by the general public.  So basically anyone can look it up if they have a mind to do so...



> The IIR contains details of:
> 
> bankruptcies that are current or have ended in the last 3 months
> debt relief orders that are current or have ended in the last 3 months
> ...



Of course it really all depends on if they bother to check or not...  Two of the places where I worked in the past were running regular monthly scans of various European/US databases where such information was reported in order to identify staff with potential issues!  But both these were financial institutions, so perhaps your employer is not so well organised...


----------



## Muntjac (11 Jul 2013)

Thank you very much for the replies, much appreciated!


----------



## mickeyg (16 Jul 2013)

Are there any banks or institutions in Ireland where a bankrupt (in UK) can open a bank account??


----------



## manninp2 (16 Jul 2013)

mickeyg said:


> Are there any banks or institutions in Ireland where a bankrupt (in UK) can open a bank account??


Barclays allow bankrupts to open a CashCard account

http://www.barclays.co.uk/Currentaccounts/Keepitsimple/CashCardAccount/P1242557963900


----------

