Bankruptcy

ATECHM

I was wondering if anyone still serving as filed for bankruptcy? We are looking to wipe the slate clean, Its a it more than that but we have seven years left in the forces. and so what not be looking for house until after that period. Do the MOD have to know about it etc etc? I am looking for anyone with experience in it.

Thanks

jcarver007

Im in a similar situation to you, although ta and running own business. Some people have said dont bother saying anything to anyone. Not sure if it comes up on anything once bankrupt. I have heard though that you cant serve if bankrupt as your deemed a security risk.

tinkerbell28

ATECHM wrote: »

I was wondering if anyone still serving as filed for bankruptcy? We are looking to wipe the slate clean, Its a it more than that but we have seven years left in the forces. and so what not be looking for house until after that period. Do the MOD have to know about it etc etc? I am looking for anyone with experience in it.

Thanks

Yes you DO have to declare it. I wouldn't hide it either as it will be uncovered and that's bad territory as you'll have not been honest. Which will just make it look even worse.

For a start it's public notice in the London Gazette. Also they change your tax code and will contact your landlord. Then it's on your credit file, which the MOD check at reviews of your clearance. If it will effect your job, or your SC only your CO can tell you. I don't know how it will be viewed. I know in my husbands job, it would be curtains, but I don't know for everyone.

I think from what I've seen before other options are possible but full out bankruptcy invalidates your SC and the fact you are no longer eligible is not something you want to lie about.

You need to speak to someone in your chain of command, in confidentiality. You need to be honest and discuss it with them

AFF_company_representative

The Army are far more sympathetic nowadays towards bankruptcy - it no longer warrants automatic discharge. You do need to declare it to your CoC.