To train to be an Accountant, as a discharged bankrupt?

[3gorgeousgirlies]

Just that really.

I'm a SAHM looking to retrain in a career that will have good prospects and pay.

I was discharged from bankruptcy 12 years ago. The debt was incurred in my early 20's due to an unstable home life. I have learnt from my mistakes and I have changed and matured and now know how to handle my finances .

Please , has anyone got any advice?

Thanks

Accountancy is pretty heavily regulated. You need to pose this question to one of the accountancy professional bodies
like ACCA or ICAEW. They would be the ones to say if they would accept you.

Even if they say yes, many firms may not be prepared to offer you a job so if you get the OK from the professional body then you would be best to get a training position from a firm rather than pay your own training and then find no one will take you on.

Good luck!

I know that for ICAEW, you cannot be a member while bankrupt, but can re-apply once the bankruptcy has been discharged, I would assume then you could become a member as a discharged bankrupt. There's some more info here (although it mainly relates to current members): www.icaew.com/en/membership/support-throughout-your-career/support-members-scheme/information-sheets/chartered-accountants-in-financial-difficulty

I would say though that getting a training contract would be incredibly hard - it was certainly asked when I applied back in the dark ages (and have to confirm every year).

It may (although I don't know this) be easier to go down the AAT route. I don't know what restrictions ACCA or CIMA have.

Sorry that's not very encouraging- I would give some of them a call though and see

Getting onto a course wouldn't be difficult, but a job will be harder. In banking or financial services for example you can never have had a bankruptcy, and if they discover you have then it's instant dismissal.

Plenty of organisations will not employ you as a CA if you have ever been bankrupt.

I don't think the bodies will give you a straight answer, it usually depends on a myriad of reasons and a panel would have the final say, but then it's not the body who would employ you at the end of it other companies may still have an issue with it if they don't.

There are a huge number of CAs in the UK, you'd be at a big disadvantage compared to most.

I imagine that you're looking to go down the AAT route of self study? Possibly do level 2 and 3 which could qualify you for bookkeeper before continuing on?

This is from the Institute of Certified Bookkeepers

If you have been declared bankrupt you will not be eligible for membership until such time as you have been discharged and are able to produce a discharge notice.

I think the AAT would have a similar viewpoint. You just need to explain why and show that you've been stable since.