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Could a financial employee lose their bonding if they file for bankruptcy?
Wiki User
∙ 16y ago
according to our corporate attorney, under 11 USC sec 525 an employer cannot terminate an employee because that employee filed for bankruptcy. however in regards to financial institution employees, there could be an issue if being bonded is a job requirement and that employee does not qualify to be bonded because of the bankruptcy. if the bonding company will allow the employee to maintain their bond if they file, than the employee would be protected under the above stated code. basically, it is up to the insurance company offering the coverage to the financial institution and their requirements for maintaining fidelity bond capabilities.
Wiki User
∙ 16y ago
Wiki User
∙ 16y agoMany financial jobs require wonderful credit history, since you will be handling money and financial affairs.
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Could a financial employee lose their bonding if they are convicted of a felony?
Yes, if you commit a felony, you can not only lose your bonding but you probably will. Also, you can lose your job, in fact, you probably will. In fact, you could even go to jail. When you are in jail, you will be working under people who make a whole lot less money than you could make in your present job if you would be honest. Still, when you are in jail, you usually get three hots and a cot. It will be years, if ever, before you can ever be bonded again. Still, it depends on the bonding company. Most bonding companies would not touch you with a 10 foot pole but one might.
If someone filed bankruptcy back in 1999 and a creditor was not listed were they included in the bankruptcy?
No. And if you knew they were a creditor, you could be subject to fraud charges for having filed papers with the court swearing you were declaring your entire financial status and known creditors.
Can bankruptcy hinder you in joining the navy reserves?
Bankruptcy won't hinder your enlistment, but COULD limit what you do in the Navy, since credit history is one of the elements of security clearance investigations. How long ago the bankruptcy was filed, and current financial responsibility can improve your chances of at least a Secret clearance, needed for many Navy jobs.
Where can you get free Bankruptcy Advice?
If you are considering bankruptcy then it makes sense that you would seek out as much free bankruptcy advice as possible before you take the plunge.There are a number of longterm bankruptcy effects which cannot be avoided, so it is important that you are fully informed about the process of bankruptcy and what it means to your personal, professional and financial standing.The Internet is a great place to start when looking for free bankruptcy advice. There are a number of websites out there which offer an in-depth bankruptcy research. You should always seek expert advice about bankruptcy as there could be other debt solutions which are more suitable for your situationINFO:Before filing for bankruptcy, remember that it remains in record for 10 long years. Meet good financial lawyers to be able to handle this issue properly. Better consult them for advice so you will be guided. Filing for bankruptcy is not an easy thing to handle so better seek for legal advisers who will help you all throughout.
How could one benefit as an investor from the inevitable bankruptcy of GM?
You don't benefit as an investor. You made a financial investment in a company that has or may file bankruptcy - which is pretty much the highest degree of financial failure a company can have! YOU MADE A BAD INVESTMENT. If you haven't invested yet, and believe it will go BK, shorting the stock would seem to be a real possible opportunity.
What types of jobs are offered by Primark?
At Primark there are many jobs that have to do with fashion and styling. You could become a financial employee or even become a stylist and get hands on with the models.
When did Lehman Brothers file for Bankruptcy?
Lehman Brothers filed for bankruptcy on September 15, 2008 after it could no longer function during the credit crisis of 2008. Other victims of the financial industry downturn have included Indymac, Bear Sterns, Fannie Mae, and Freddie Mac.
What if your student loan was in bankruptcy and then the student loan comes back and say you owe them?
Although bankruptcy is a genuine path to get out of debt, it leaves a long lasting scar, and comes at a high price financially and emotionally. The financial impact is severe; a bankruptcy will stay on your credit report for 7-10 years. You shouldn't consider bankruptcy as a simple "quick fix" to all of your financial difficulties, but rather as one of the many available solutions you may have given your individual situation. In October 2005, new congressional legislation made filing for bankruptcy more difficult and burdensome. A Chapter 13 bankruptcy could result in higher monthly payments and may last longer than an alternative debt resolution program. If you have questions about bankruptcy or are considering it as an option, we advise you to speak directly to an experienced bankruptcy attorney licensed in your state.
Why would anyone need a bankruptcy attorney?
People who have accumulated debt beyond their ability to pay, either due to medical bills, credit card bills, disaster, business failure or other financial devestations could need a bankruptcy attorney. This attorney can help guide them through the steps neccesary to help eliminate debt and help a person move on towards a better financial future.
How long after filing bankfuptcy could you start a new company?
A new company can be started any time after bankruptcy. It may however be difficult to obtain loans from financial companies as this will be highlighted on your credit report.
Where can someone go to obtain a bankruptcy home loan?
To obtain a bankruptcy home loan one could make an appointment with their local bank to talk to an advisor. One could also make an appointment with a bankruptcy lawyer.
How could it also hurt YOU if you declared bankruptcy?
Negative effect on your credit, Property may be affected, Not all debts can be eliminated, adverse effect on your financial situation, influence the status of your security clearance if you don't inform your employer about your bankruptcy and why you've filed for bankruptcy, can also limit future job opportunities depending on the field of work you are in, you may not qualify for new credit, Not all retirement plans are protected.
