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Advice for someone with a former bankruptcy considering a career in the industry

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HF | 11 Sep 2018, 04:31 AM Agree 0
My question should be a simple one to answer (I think) for anyone who has been in the industry for a while. I was discharged in 2013 from personal bankruptcy. I have since re-established good credit and possess adequate savings to a consider a mid-life career change. To what degree will my bankruptcy impede my efforts to get hired from a brokerage and/or get certified from the FSCO? I would like to take the necessary courses toward my Agent's license, but I'm not sure if I'll be wasting my money. Any suggestions or advice would help. I contacted the FSCO and my former trustee but they were not much help.
  • CP | 18 Oct 2018, 04:50 PM Agree 0
    I am actually in that same situation.I called FSCO today and was told that I should disclose that on the application and submit your discharge with your application and they review it on a case by case basis. Good Luck
  • HF | 22 Oct 2018, 05:22 AM Agree 0
    Good luck to you as well. Before you get licensed as an agent though, a brokerage has to hire you. At least that's what I understand. That was my other concern in my original post. Is this something I should disclose to a potential employer, and if so, is it going to be a big issue (given the nature of this work)? What are your thoughts on this? I knew a little about how the FSCO handles this issue and your comment above supports it. Their site has some vague information about situations that could be problematic, one of them being a bankruptcy. From what I understand, so long as the bankruptcy doesn't reveal anything dodgy the application is considered further. The other concern is basically getting hired. If anyone else wants to chime in too, that would be welcome.
    • CP | 23 Oct 2018, 07:42 AM Agree 0
      Yes you would have to sign up with a brokerage and they submit your application to FSCO for the licence
      But before that...I would speak to the brokerage first and be up front with them ; if they choose to hire you ,I cant say for sure but in my opinion ...If there was nothing dodgy about the banko the brokerage would likely hire you ..but FSCO will have the last say....also they will do a police background check...hope this helps!
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