Employment and Insolvency/ Bankruptcy

smalandcute

Hi all,

Posting this here as I am hoping someone will know. Once you have been discharged from being insolvent or bankrupt can you work in crime prevention roles either publicly IE police or privately with companies such as banks, payment processors and companies that work with other companies regarding corporate crime etc?

I am not looking to be a solicitor but looking at something like fraud prevention or police work.

TIA

thevdm

A partial list of job restrictions is here: https://www.talkaboutdebt.co.uk/knowledge-hub/bankruptcy-affect-employment/

From what I gather the restrictions apply while you are bankrupt and go away once you are discharged. Although you will not be restricted from doing certain jobs after bankruptcy, some employers may have their own terms which disqualifies people who have ever been bankrupt; so although not impossible you may find it harder to get the job you want.

According to this article, working for the police shouldn't be an issue past discharge: https://bankruptcyexpert.co.uk/can-i-go-bankrupt/can-i-go-bankrupt-if-i-work-for-the-police

 

As for fraud prevention, I imagine it would be the same past discharge, although if a BRO or BRU happens during your bankruptcy (especially if it's applied because of fraud) then I would guess it would be hard to impossible to get a job in this industry.

As long as you co-operate, tell the truth and havent gained debt from gambling or fraud then a BRO/BRU shouldn't be a problem.

[Deleted User]

As above, employers will set their own policy but no blanket bans that I'm aware of.

For example, I wasn't even interviewed for one role as the bank "considered even a status 3 to be incompatible with the role" which I thought was frankly ridiculous - how can one emphasise with customers if all the staff are basically model citizens and have never experienced more severe financial distress!?

But then I did get other roles.... so there is hope. It all depends on the employer (and potentially, the interviewer!). Haven't got experience in fraud, I'd expect that to be harder for obvious reasons.

As a rule of thumb, I'd say when you've been discharged 3 years if you're not already working in banking. 3 years being the figure banded about by many lenders (for mortgage lending purposes) and should be long enough to help demonstrate a suitable 'recovery' (no further issues etc.). After 3 years discharged (4 since the order), you could rightfully claim the issues are historic and you've learnt from mistakes etc.

mwarby

When I started working in finance (tech role, not advice) was told CISI like it to be 5 years post discharge