Will BR affect future career?

Rainbow_Butterfly

Bit of background.. I have been working in accounts roles for years. One of the reasons that I didnt petition for BR rather than getting an IVA is that I was in an FSA regulated role so wouldnt have been able to keep my job. I stopped working when I had my son and didnt go back after maternity so this was no longer a problem.

I will be off work for a couple of years now and I had been looking at starting an open university degree in business (possibly with accounting) to further my career in future although I dont know if this is now a fairly pointless idea.
I have no great love of accounts/ business it was just the area that I fell into working. I much more enjoy subjects like sciences/ geography etc, but if I got a degree in something like that I cant see that I would ever use it for anything. We have to move around every couple of years as DH is in the military so any vocation I had would need to be one with jobs easily available.

So the question is, would being a previous BR stop me from working in reglulated roles in future, and indeed would it stop me from getting positions using a business degree such as managment jobs?
If this is the case would it be a better idea to do a degree that I have more interest in (sciences etc) for the sake of then being able to apply for general graduate positions.

I hope I have explained that right, I have a rather curious 1 year old trying to get the keyboard off me :rotfl:

xx

fiveyearplan

I would think doing a degree you have the most interest in would be best. There are very few jobs that being BR would prohibit you from doing. Sorry I don't know where you might find a list.

philnicandamy

From...consumer credit councelling website (http://www.cccs.co.uk/faqs/Bankruptcy_Advice.aspx)

• If you go Bankrupt then you will be automatically excluded from some professions...
  • Member of the Law Society
  • Estate Agent
  • Insolvency Practitioner
  • Stock Broker
  • Pub Licensee
  • Some Positions Governed By The FSA

• For some other professions, dismissal would be at your employer’s discretion.
• Check your employment contract or consult your HR department or union.

that list is a little out of date & there are probably a few more positions that fall under...saying that though some members here are in financial positions and have kept jobs through BR...no help I know

Broken_hearted

You only have one life, go into an area you will enjoy rather than one that would grind you down over the years.

hypno06

It would def stop you being a stockbroker - that is the reason I have never declared bankruptcy.........

I am pretty sure it would stop you being in any job where you are giving advice under the financial services act......lots of jobs are subject to the FSA but I think that it is the "giving advice" bit that causes any problems.

I would say, though, that rather than think of the few jobs you *can't* do as a bankrupt, celebrate the thousands of jobs that you CAN :j

Good luck x

fiveyearplan

You can now be a school governor.

Rainbow_Butterfly

Lacoste-kid wrote: »

As far as i know it would prevent you becoming

1) Police officer
2) Accountant
3) Regulated role with FSA (IFA, Mortgage Broker, Director of this type of company) also known as an approved person
4) Magistrate

I can not think of anymore, but i am sure that if there is any someone else will advise you.


Lacoste-kid

This is the one which would cause me problems. A lot of the jobs I might end up doing if I followed the accounts/business route might well come under this umbrella. The job I just left was FSA regulated as I was a fiduciary accountant, so looking after other peoples money (just a pity I didnt look after my own so well lol)

I know I have seen the question asked on a lot of application forms for jobs in the past, if you are discharged would this still affect your liklihood of getting the job?

Im in such a quandry with this at the mo, need to decide which course to do in the next couple of weeks and I have no idea which direction to go in.

Rainbow_Butterfly

fiveyearplan wrote: »

You can now be a school governor.

Random lol.

Rainbow_Butterfly

Hmm I just found this on google

It depends on the employers and their policy. Many companies consider bankruptcy to be a moral issue that demonstrates a persons lack of character. Employers like that may consider that anyone who isn't willing to take responsibility for his/her financial obligations will probably tend to blame everyone else for problems in their work environment.

hypno06

http://www.fsa.gov.uk/pubs/policy/P31.pdf

Page 37 makes an interesting point......would probably be worth having a word with them to see what their current guidelines are.....although it may well vary from firm to firm.

(sorry, it wouldn't let me cut and paste, but I hope the link works ok!)

fiveyearplan

That question has never been asked of me in an interview and funnily enough now that I am BR I will be going to work as an estate agent.