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 ยง 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…”

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.

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Disclaimer: The Law Offices of Michael E. Zapin is a debt relief agency and we help our clients file for bankruptcy relief. The information on this website is for educational purposes only and should not be construed as legal advice.
Information discussed on this website is focused on bankruptcy in the State of Florida and may vary from state-to-state. Contact a local practitioner in your home state for more information on the differences or contact us for a reliable referral.