Does my husband have to mention his bankruptcy from 20 years ago for his PLC paperwork?

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Hey everyone, my husband is about to be a director for a company that’s going public. They gave him a questionnaire to fill out, and one of the questions asks if he’s ever been bankrupt. He was discharged 20 years ago, but his credit file is totally clear now. Do you think he needs to mention it even though it was so long ago? Not sure if it’s required or just a formality.

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Yeah, if the form asks about ‘ever’ being bankrupt, then he’ll probably need to say yes, even if it was 20 years ago. The company might just want to know he’s being fully transparent. It shouldn’t cause any issues though, especially if it doesn’t show up on his credit file.

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@Torin
Oh wow, I didn’t think about it that way. So, even though it’s been so long and nothing shows up, he should still mention it?

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@Torin
Yep, that’s right. It’s all about transparency, even if it doesn’t impact his current situation. They just want to know.

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It sounds like he’ll need to mention it if the form specifically asks about ‘ever.’ I’ve heard that companies like this want to make sure everything is out in the open before going public. But since it’s been so long, it probably won’t be a big deal.

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@Hollis
Got it, thanks! We’re just trying to figure out if he’s overthinking it or if it’s a big deal.

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Yeah, if they specifically ask if he’s ever been bankrupt, then he’ll have to answer truthfully, even if it was 20 years ago. The ‘ever’ part is what matters. But like others said, it shouldn’t cause any trouble if everything else is in the clear.

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@Stevie
Makes sense! I guess it’s just about being upfront, even if it’s a distant past issue.

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Totally agree with the others. If it says ‘ever,’ then that means ‘ever,’ no matter how long ago it was. But honestly, since it doesn’t show up on his credit, it shouldn’t be an issue at all.

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Pip said:
Totally agree with the others. If it says ‘ever,’ then that means ‘ever,’ no matter how long ago it was. But honestly, since it doesn’t show up on his credit, it shouldn’t be an issue at all.

Thanks for the reassurance! That helps a lot.

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Honestly, I wouldn’t stress it too much. If it’s been that long and nothing’s showing up on his credit, they’ll probably just appreciate the honesty. They’ll likely just note it down and move on.

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Parker said:
Honestly, I wouldn’t stress it too much. If it’s been that long and nothing’s showing up on his credit, they’ll probably just appreciate the honesty. They’ll likely just note it down and move on.

Thanks, that’s comforting to hear. I guess being transparent is the safest route.