Can I lose my broker’s license, driver’s license or any other government license solely because I filed for bankruptcy?
The answer is NO. You cannot lose your license (any of them) “solely” for filing for bankruptcy because of the protections under 11 U.S. Code § 525 (“Protection against discriminatory treatment”), subdivision (a): “a governmental unit may not deny, revoke, suspend, or refuse to renew a license, permit, charter, franchise,
or other similar grant…”
or other similar grant…”
CAVEAT: The operative word here is “SOLELY.” Meaning, if there are legitimate reasons for revoking your license (ignoring the bankruptcy issue), the mere fact that you filed for bankruptcy will not protect you.
