Bankruptcy and Bondability

What does it mean to be “Bonded“?

If a bonded employee steals money from its company, then the company’s insurer will reimburse the company for its loss.
This is often required by employers for positions where the employee is involved with:
1) The direct handling of cash;
2) Clients’ sensitive financial information such as credit card numbers or banking information;
3) Client representation;
4) The Financial Services and Banking Sector; or
5) The Vulnerable Sector.
When your company applies to have you bonded the insurance company will perform a background check.

Bonding and Bankruptcy

If you are an un-discharged bankrupt, then you are not bondable.  Fortunately, once you complete the bankruptcy process and obtain your discharge, you are once again bondable.  Regardless, for someone who needs to remain bondable to maintain their job, bankruptcy is often not an option.  In these cases, a Consumer Proposal is usually the best way to erase debt, as a Consumer Proposal does not affect your bondability.

Conclusion

If you’re considering your options to deal with your debt then give us a call.  We’ll consider all relevant factors including bondability and arm you with the information that you need to make the best decision possible about your financial future.
What are you waiting for?  Get help now.  Let us impress you with a quick response.  You’ve got nothing to lose except your debt!