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How bankruptcy affects me

How can bankruptcy affect my job or career?

There are lots of things to think about before going bankrupt. Including how it affects your job or career.

Bankruptcy affects some types of employment are more than others.

The rules around debt relief orders (DRO) have changed. These changes could benefit those considering an insolvency solution like bankruptcy. Please take a look at the changes. For some people a DRO will be a cheaper option to full bankruptcy.

What jobs does bankruptcy affect?

There are some jobs you cannot have if you are bankrupt.

These are jobs you cannot do until you are discharged from your bankruptcy:


  • Charity trustee
  • Company director
  • Insolvency Practitioner
  • Justice of the Peace
  • Registrar of births, marriages and deaths
  • MOT authorised examiner
  • Consumer credit licence holder

These are jobs you cannot do if the official receiver extends your bankruptcy restrictions:


  • Local or national government, for example a councillor or MP
  • School governor
  • Magistrate
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Bankruptcy and my employment

Many jobs are not affected if you go bankrupt. But bankruptcy can have severe consequences on some types of job. You should make sure you check first.

In some jobs, a record of bankruptcy may lead to:


  • Dismissal
  • Demotion
  • Other issues

Some professional membership bodies do not allow people with undischarged bankruptcies to remain members.

Check if bankruptcy will effect your job if you work in: 


  • Armed forces
  • Cash handling, like banking, payroll or security
  • Financial services
  • Law
  • Medicine
  • Property
  • Police
  • Pub licensee
  • Security
  • Self-employment as a sole trader or partnership

Do I lose my job if I go bankrupt?

Check your employment contract to see if it says you cannot go bankrupt.

You will not automatically lose your job if it does say this.

For advice on how bankruptcy might affect your job, arrange to speak confidentially to:


  • Your trade union rep
  • Your employer's human resources department

Do not take any steps towards going bankrupt before getting professional debt advice.