Employed and going Bankrupt

(8 Posts)
Glitterball86 Tue 19-Jan-16 17:38:17

Hello,

I'm currently in process of going bankrupt and am on Mat leave at present .

I work in the financial services sector and previously this has been a no no as would lose my job as the company regularly completed credit checks!

However , I started this job in December 2014 and I am unsure what to do, should I resign or wait to be dismissed for gross misconduct?
From going through my paperwork I note I have not actually signed my contract (I found the envelope with two copies in requesting I keep one and sign and return the other but this has never been chased up)

Just wondering what I should do?!

Many thanks in advance x

LIZS Tue 19-Jan-16 17:44:57

I don't think it matters whether you signed it or not. By working and being paid the contract is valid. Is there any alternative but to go bankrupt if it will affect your career prospects.

Leigh1980 Tue 19-Jan-16 17:48:58

I've never understood why personal credit has anything to do with a company you work for. I think it's so unfair as if it's shit enough being bankruptcy you now lose your job. Can someone explain that to be please. I'm so sorry you're going through this Glitterball. Is there anything else you could try i.e. Small payments on a consolidated loan or something.

LIZS Tue 19-Jan-16 17:53:28

I think it relates to financial management skills , so by association calls into question how might advise or handle others' finances. shame they don't apply same to questionable bank execs

Borninthe60s Tue 19-Jan-16 17:58:10

I'd send a letter to HR with notice if of bankruptcy and ask what the procedure is and if they can use discretion as you're pregnant/new mum/ex dp got you into debt or whatever. Be honest.

HumptyDumptyHadaHardTime Tue 19-Jan-16 17:59:52

I'd send a letter to HR with notice if of bankruptcy and ask what the procedure is and if they can use discretion as you're pregnant/new mum/ex dp got you into debt or whatever. Be honest.

Not always as simple as that unfortunately. It depends on FSA regulations.

AnchorDownDeepBreath Tue 19-Jan-16 18:01:39

Not signing your contract doesn't matter, you're deemed to have accepted the terms by continuing to work.

But, you might not lose your job, even if your contract says that you will. Speak to your HR department and explain. It may be that you have to adjust positions, depending on what you actually do, but it's not clear cut that you'll need to give up.

The difficult part is that, regardless of your discharge date, the application form for financial services jobs usually asks if you've been bankrupt in the last 5 years, so you might be limited in job changes for the next few years.

Glitterball86 Tue 19-Jan-16 18:15:06

Thank you for your advice! I will contact my HR and go from there, I'm fully prepared to get a job which pays less etc for next 5 years and hopefully will be able to get back in this profession later on down the line! I was doing so well with my DMP and cleared over 30k but since having being on Mat leave and various other goings on am not able to maintain this sadly so am going Bankrupt smile

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