Bankruptcy - Annulling after 18 years. Does anyone have experience?

NewLeaf1986

TBQH I'd be overwhelmingly suprised if you yield a different reaction from an employer telling them about a satisfied bankruptcy from 18 years ago vs telling them about an anulled bankruptcy from 18 years ago.

I'd guess it's more a peace of mind thing for you over anything else, which I really appreciate. I think from a pragmatic standpoint however the effect will be minimal if there's any effect at all from getting the annulment.  

Spanke_y

NewLeaf1986 said:

Having been bankrupt 18 years ago shouldn't in and of itself be a bar to entry to financial services. Financial probity checks require the interested party (employer etc) to give the employee opportunity to explain any disclosed historical events and the interested party are under an obligation to treat every application on merit.

I underwent a financial probity check when contracting for a large public sector client during my bankruptcy, I was given an opportunity to explain the circumstances surrounding the fincial event and permitted to continue working on the contract as they were satisfied with my explanation. 

I know there are some outlying cases though so appreciate your wanting to ensure there's no potential barriers further down the line. Sorry I can't offer advice on this specific matter. 

I appreciate the additional information and it's been helpful using others as a sounding board. Worse case I don't get to work in the industry although as you've mentioned, I will have the chance to explain myself during the interview. I was a financially naive youngster getting given credit cards! I remember applying for a Visa card and they sent a Mastercard with it. Within 3-months I had 6 cards with 3 companies and with limits higher than what I was earning in a year! I got really sick and couldn't work for a long time and then it all caught up with me. 

NewLeaf1986

Spanke_y said:

NewLeaf1986 said:

Having been bankrupt 18 years ago shouldn't in and of itself be a bar to entry to financial services. Financial probity checks require the interested party (employer etc) to give the employee opportunity to explain any disclosed historical events and the interested party are under an obligation to treat every application on merit.

I underwent a financial probity check when contracting for a large public sector client during my bankruptcy, I was given an opportunity to explain the circumstances surrounding the fincial event and permitted to continue working on the contract as they were satisfied with my explanation. 

I know there are some outlying cases though so appreciate your wanting to ensure there's no potential barriers further down the line. Sorry I can't offer advice on this specific matter. 

I appreciate the additional information and it's been helpful using others as a sounding board. Worse case I don't get to work in the industry although as you've mentioned, I will have the chance to explain myself during the interview. I was a financially naive youngster getting given credit cards! I remember applying for a Visa card and they sent a Mastercard with it. Within 3-months I had 6 cards with 3 companies and with limits higher than what I was earning in a year! I got really sick and couldn't work for a long time and then it all caught up with me. 

It's a very common story from that era of finance, the sort of 2000-2008 era were definitely where lenders threw out credit limits like candy just to increase the size of their asset catalogues with little regard for the affordability of their customers.

It was this era when my ex and I accumulated the lion's share of our debt too and although we split eight years ago I was still paying this off and two years ago I just decided.

Look. Enough is enough. I've paid more in interest than we ever borrowed to begin with, we've been separated for eight years, I'm moving on with my life and declaring myself bankrupt.

I have no regrets about declaring myself bankrupt, it was absolutely the right thing to do and in your case it was too.

Life has moved on and I'm sure any employer worth dedicating a significant portion of your life to will be understanding of that. 

I wish you every success 

Edi81

Records for 100 years! 

Definitely not. 

GeordieGeorge

NewLeaf1986 said:

Having been bankrupt 18 years ago shouldn't in and of itself be a bar to entry to financial services. Financial probity checks require the interested party (employer etc) to give the employee opportunity to explain any disclosed historical events and the interested party are under an obligation to treat every application on merit.

I underwent a financial probity check when contracting for a large public sector client during my bankruptcy, I was given an opportunity to explain the circumstances surrounding the fincial event and permitted to continue working on the contract as they were satisfied with my explanation. 

I know there are some outlying cases though so appreciate your wanting to ensure there's no potential barriers further down the line. Sorry I can't offer advice on this specific matter. 

It depends on the job. No-one’s getting a regulated position with a bankruptcy in their past. Even an unsettled CCJ will normally be enough to exclude someone.