question category: Debt Relief Order

To what degree will a Debt Relief order affect my chances of future employment in Finance
Submitted on: 20th Jan 2010 by Non-Member | Total Answers: 1

I have recently become unemployed. I have a £5k loan and so I am having to find loan repayments from my £64 per week income support. This is clearly mission impossible and so If I can't find work in the next month or so I am going to have to apply for a Debt Relief Order. Besides becoming insolvent for a year my main reservation is the affect this would have on my future employment prospects, especially as I work in Management Accounts.

Any advise would be much appreciated.

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Re: To what degree will a Debt Relief order affect my ...

It depends on how much compliance the role you apply for is subject to, DRO's are listed on a publicly available register and will show on a credit check.

Most application forms for financial services jobs ask about things like this - in my experience it's unlikely it would stop you from getting that interview as long as you are truthful.

You probably know that if you do find work and are able to resume payments during the year the DRO will be cancelled.

Staying out of work for a year for the sake of a £5k debt might not make financial sense anyway.

If you want to know more about DRO's the Citizen's Advice Bureau are one of the few debt advice charities able to give definitive answers.

Submitted on: 21st Jan 2010 by Darren Member

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