Finding Employment After Filing Bankruptcy
Many times the loss of a job will be the main cause of a bankruptcy filing.
After filing it's important to get back in the saddle and find a replacement job.
Nowadays, many qualified individuals can be denied job opportunities simply because of financial failures in their past.
An individual that had to file bankruptcy is like an individual that just gets out of school who is turned down for jobs because they lack experience in that field.
If they continue to get turned down, they will never get the experience they need.
Somebody has to take a chance on those right out of training or school and give them their first job.
Likewise, employers must be willing to take a chance on hiring someone who has filed for bankruptcy.
Many businesses will tend to not hire individuals who have bad credit or had to file for bankruptcy because they believe that they might be financially irresponsible.
When it comes to the importance of finding a job, no one needs steady employment more than someone who is out of work and bankrupt, especially when indebtedness is due to joblessness.
While the Bankruptcy Court might forgive a debtor who had their debts discharged under a Chapter 7 filing, some future employers do not.
Although filing bankruptcy provides a solution for individuals who find themselves unable to pay all their debt, it can have a negative effect on future employment.
Unless employers are willing to give them a second chance, finding employment after a bankruptcy filing can sometimes be quite a challenge.
Those unemployed and looking for work in banking, retail merchandising, government, security, and outside sales have background checks by prospective employers.
Those hiring individuals for sensitive positions always want to verify credit reports, criminal background, and drug tests.
In fast a paced world of technology and the Internet, credit checks have become common place for many occupations.
A potential employee could be fully qualified for an open position, but if a bankruptcy filing shows up on a background check, they might lose the chance at being hired for the job.
The Fair Credit Reporting Act requires consumer reporting agencies to divulge information about anyone to businesses asking for it.
A Chapter 7 and a Chapter 13 bankruptcy stays on a credit report for up to ten years, so it is probably best to inform company interviewers regarding any negative items that might be found in credit reports or background checks before they find out about them on their own.
On a good note, many companies understand that bad things do happen to good people.
Some companies weigh past work performance, experience, and qualifications choosing to overlook filing bankruptcy because of the current large number of normal people having to file.
Discrimination is prohibited against anyone solely on the basis of a bankruptcy in the U.
S.
Bankruptcy code.
Employers still have the right to interview and thoroughly check out individuals before hiring them, making it very difficult to prove any kind of discrimination.
Some companies and municipalities concerns are often legitimate as individuals working in financial, government, high security, or retail occupations are more at risk for embezzlement, bribery, fraud, or theft if they are having financial problems.
After filing it's important to get back in the saddle and find a replacement job.
Nowadays, many qualified individuals can be denied job opportunities simply because of financial failures in their past.
An individual that had to file bankruptcy is like an individual that just gets out of school who is turned down for jobs because they lack experience in that field.
If they continue to get turned down, they will never get the experience they need.
Somebody has to take a chance on those right out of training or school and give them their first job.
Likewise, employers must be willing to take a chance on hiring someone who has filed for bankruptcy.
Many businesses will tend to not hire individuals who have bad credit or had to file for bankruptcy because they believe that they might be financially irresponsible.
When it comes to the importance of finding a job, no one needs steady employment more than someone who is out of work and bankrupt, especially when indebtedness is due to joblessness.
While the Bankruptcy Court might forgive a debtor who had their debts discharged under a Chapter 7 filing, some future employers do not.
Although filing bankruptcy provides a solution for individuals who find themselves unable to pay all their debt, it can have a negative effect on future employment.
Unless employers are willing to give them a second chance, finding employment after a bankruptcy filing can sometimes be quite a challenge.
Those unemployed and looking for work in banking, retail merchandising, government, security, and outside sales have background checks by prospective employers.
Those hiring individuals for sensitive positions always want to verify credit reports, criminal background, and drug tests.
In fast a paced world of technology and the Internet, credit checks have become common place for many occupations.
A potential employee could be fully qualified for an open position, but if a bankruptcy filing shows up on a background check, they might lose the chance at being hired for the job.
The Fair Credit Reporting Act requires consumer reporting agencies to divulge information about anyone to businesses asking for it.
A Chapter 7 and a Chapter 13 bankruptcy stays on a credit report for up to ten years, so it is probably best to inform company interviewers regarding any negative items that might be found in credit reports or background checks before they find out about them on their own.
On a good note, many companies understand that bad things do happen to good people.
Some companies weigh past work performance, experience, and qualifications choosing to overlook filing bankruptcy because of the current large number of normal people having to file.
Discrimination is prohibited against anyone solely on the basis of a bankruptcy in the U.
S.
Bankruptcy code.
Employers still have the right to interview and thoroughly check out individuals before hiring them, making it very difficult to prove any kind of discrimination.
Some companies and municipalities concerns are often legitimate as individuals working in financial, government, high security, or retail occupations are more at risk for embezzlement, bribery, fraud, or theft if they are having financial problems.
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