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Bankruptcy
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mickthesplit
- Posts: 31
- Joined: 06 Feb 2009, 18:06
- Gender: Male
Bankruptcy
Will I lose my job if I go bankrupt? I work in letters.
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mailsort6
- Posts: 356
- Joined: 11 Aug 2007, 13:22
Re: Bankruptcy
You will not lose your job it is usually bankers, accountants, lawyers or people who work within the financial sector or law enforcement sector who have to declare to their employer that they are bankrupt.
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Sick Postie
- Posts: 91
- Joined: 12 Jul 2007, 20:51
- Gender: Female
- Location: Ulster
Re: Bankruptcy
Now even many of those who work in the financial sector and end up bankrupt are allowed to remain in their jobs. Due to the recession many more people have ended up out of their depth with credit card and loan repayments never mind their mortgages. The bodies that are over accountants, financial advisers and the like realise this and are now often sympathetic.
Are you sure bankruptcy is the way to go? Have you a lot of unsecured debt - credit cards, personal loans etc if this is the cause of your problems it may be that a debt management plan would be an option. Do you own your own house? If you own it with a partner it may be possible for them to buy the equity for a reduced sum rather than you lose your home. If you do feel that bankruptcy is the only option it is not the end of the world, it only lasts for one year now and if there is really no other way to get out of the mess you will probably feel a great relief when you go bankrupt. It is not necessary to pay someone to make you bankrupt, you can do it yourself for a few hundred pounds. Also don't worry about having to go to court, it is done privately with just you and the Master present.
Hope it all works out for you whatever you decide to do.
Are you sure bankruptcy is the way to go? Have you a lot of unsecured debt - credit cards, personal loans etc if this is the cause of your problems it may be that a debt management plan would be an option. Do you own your own house? If you own it with a partner it may be possible for them to buy the equity for a reduced sum rather than you lose your home. If you do feel that bankruptcy is the only option it is not the end of the world, it only lasts for one year now and if there is really no other way to get out of the mess you will probably feel a great relief when you go bankrupt. It is not necessary to pay someone to make you bankrupt, you can do it yourself for a few hundred pounds. Also don't worry about having to go to court, it is done privately with just you and the Master present.
Hope it all works out for you whatever you decide to do.
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plainpat
- EX ROYAL MAIL
- Posts: 410
- Joined: 18 Jan 2010, 19:29
- Gender: Male
- Location: You can't get any further east in the UK without going for a swim in the North Sea
Re: Bankruptcy
Useful site:
http://www.insolvency.gov.uk/bankruptcy ... ruptcy.htm
Hope whatever happens, it works out well for you
http://www.insolvency.gov.uk/bankruptcy ... ruptcy.htm
Hope whatever happens, it works out well for you
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ldsposti
- EX ROYAL MAIL
- Posts: 376
- Joined: 06 Nov 2008, 18:43
- Gender: Male
Re: Bankruptcy
Bit of advice mate if you are in so deep go to a credit union asap i did years back, ive not looked back since if anyone can sort you out they can. best of luck
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dolphlundgren73
- Posts: 39
- Joined: 10 Sep 2009, 11:46
- Gender: Male
Re: Bankruptcy
As far as im aware. The post office will not allow anyone to work for them if they are bankrupt. This has to do with the handling of bank cheques. I checked on Bankruptcy laws the other day.
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stodgy88
- EX ROYAL MAIL
- Posts: 641
- Joined: 14 Nov 2008, 20:11
- Gender: Male
Re: Bankruptcy
i went bankrupt ,told royalmail -no problem