This issue is driving me mad! Some questions suggest personal bankruptcy reflects badly on the profession therefore does violate the standards, whereas other questions say personal bankruptcy isn’t relevant and doesn’t reflect badly on the profession and is ok? I’m so confused. Can someone clear this up for me? Is it something to do with disclosing personal bankruptcy??
Personal bankruptcy does not violate any standards. Lying, cheating or stealing about certain records, etc while in bankruptcy violates the standards. You can go bankrupt, but if you lie, hide assets, etc - it is a violation.
Ok cool, thanks so much for clearing that up, thought I was going mad!!
however Bankruptcy must be disclosed, right?
I bought a house, lost job and unable to pay the mortgage. Filed bankruptcy, no violation. I bought a house, took equity loan, walked out and filed bakruptcy intentionally not to pay back the equity loan. Yes violation.