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NeoEvil
Starting Member
2 Posts |
 Posted - 12 January 2012 : 21:10:04
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Hello everybody!
I have recently been discharged from my bankruptcy and now a change at my work means that I am likely to be in a position where I am given a company credit card.
Now, as far as I can tell, my employer is (and has been for the entire process) unaware of my bankruptcy. They are a fairly small company, and I would rather keep it on the down low, as there can be some pretty short-sighted opinions around the place.
The bankruptcy was fairly run-of-the-mill - debtor's petition, consumer credit debts, shortfall on property, no inference of fraudulent activity, nothing further from the OR over their standard investigations, automatic discharge.
If I really have to, then I will let them know about the bankruptcy, but I am wondering if anyone on here has had practical experience of this scenario?
For example, does the card issuer credit check every card-holder that the company wishes to issue a card to? As far as I understand, the card is actually a charge card, rather than a credit card, and the issuer will issue a card to whoever the company authorises them to do so.
As said above though, I really would appreciate some real world advice, especially from anyone with actual experience!
Many thanks in advance. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 12 January 2012 : 22:14:19
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I believe, but I do stand to be corrected, that as long as the company pay the bills and you are just a named card holder, then you should be ok.
Hopefully one of the experts can confirm.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 13 January 2012 : 07:55:56
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I agree with Jan, it's the company that sign the credit card agreement and you should be fine, as far as I know, they don't credit check you as you won't be responsible for the payments.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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xmas baby
Average Member
537 Posts |
Posted - 13 January 2012 : 10:40:27
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Hi there,
I was in the same position when I declared myself bankrupt. I am also the cardholder for a business credit card, but as they are responsible for the agreements and payments, then it shouldn't affect you as you are only the cardholder (even if your name is on the card). I didn't have any problems myself and my work were never aware of my bankruptcy.
xmas baby |
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NeoEvil
Starting Member
2 Posts |
Posted - 13 January 2012 : 18:54:57
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Hey guys, thanks for the helpful responses.
I will be going for the 'wait and see' approach. If it turns out they discover it (or already knew about it) and want to use it against me, then so be it, but to be honest, I think I would be all right - but it's nice not to worry about it.
It might not happen anyway! I shall endeavour to keep you posted.
In fact, I might even hang about the forums a bit more, as I might have something to offer here. What I didn't mention before is that I actually worked in the insolvency industry for a number of years, mainly personal, but also some corporate. The personal work was predominantly bankruptcy, but with a large helping of IVAs thrown in.
My experience was one of the reasons I went straight for bankruptcy - and it was quite possibly one of the best decisions I ever made.
I posted here as this particular situation was one I had not seen before (or recalled), so am pleased that I did. 
Anyway, enough waffle - I can save that for another thread!  |
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Company Credit Card
