self bankruptcy filing
What if I get a job after I make myself bankrupt?
i am filing for bankruptcy, I am self employed but have had no work for months and owe £27k and have no income, despite having 24 interviews for permanent full time jobs over the past few months. If I declare myself bankrupt then get a job, what happens to my debts, do I get them back and have to pay them off or once it is done is that that? If I get a job will I be allowed a bank account to be paid into??
I don’t own a home or anything else at all.
In England and Wales
You getting a job will not suddenly bring the debts back, they remain in the bankruptcy and will be cleared in the usual way.
However if you get a job paying sufficient income you may be given an income payment order/agreement. This means that you have to pay a regular sum to the Official Receiver/Trustee in Bankruptcy for a period of up to 3 years. Yes this means that you could be asked to pay after the bankruptcy is finished.
Ay bank account will be frozen when you are made bankrupt but the Official Receiver will normally permit banking facilities but some banks wont operate an account for an undiscahrged bankrupt. You may have to look around to find one.
Finally there is a very small list of jobs you cant do when bankrupt eg be an accountant
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