I was watching a tv show where a character had to declare bankruptcy. She was told that she was required by law to disclose this to her employer. I’m not sure how much of this is based in fact, but if you had a lot of debt, wouldn’t it be beneficial for all parties involved to allow that person to keep earning an income in order to reduce that debt?
For added context, this was an Australian show so I’m not sure if these laws apply elsewhere, let alone Australia.
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Some jobs require licensing that you lose if you go become bankrupt. Usually the jobs involve handling large amounts or money or giving people financial advice. The thought process is that if you are incapable of handling your own money to the point you are bankrupt, you can’t be trusted to properly handle other people’s money.
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