Hi, I have a few questions. PLease could you advise me:
How long does bankruptcy last?
How long before you can obtain a mortgage after?
Does your employer need to be made aware?
Can you still practice as an accountant?
How long does the application take to go through?
You are usually discharged from bankruptcy after one year, but if required to make ongoing payments to your creditors these will last for a maximum three year period
You can generally apply for a mortgage the day after you have been discharged, but of course this does not mean that anyone will be prepared to lend you the money
Your employer does not need to be made aware of the bankrutpcy, but as your tax code may be affected during the first year, this may raise questions of your payroll department
You cannot practice as either a Chartered or Certified Accountant if you are declared bankrupt, but you can work as one for someone else as an employee
That would depend upon the Court list in your area, but usually no more than a month.
