Will Bankruptcy Make it Harder to Find Work?Saturday, June 1st, 2019, 12:41 am
If you’re thinking about filing bankruptcy and are considering changing jobs in the near future, you may wonder if you’ll easily be able to do so. Bankruptcy does have a major effect on your credit, but how much of an effect does your credit have on potential employment opportunities? Will any new potential employer be able to see that you filed bankruptcy, and will they care? The answers to these questions may play a part in your decision to go through with your bankruptcy.
It Depends on the Job
Determining if bankruptcy plays a part in whether or not you get a job depends on the job. When you apply, you do sign off on paperwork giving your potential new employer the right to check your credit history, and most do. If the job you’re applying for has anything to do with finances, money, accounting, or anything where you may have access to cash or work with cash, it could have an impact. These positions, especially those that are higher up in the company or that have direct control of a budget, do require you to be financially savvy. The employer may consider your bankruptcy as a sign that you are not.
Government Agencies Cannot Factor in Bankruptcies
If the job you’re applying for is with any government agency, whether it’s on a local, state, or federal level, your bankruptcy won’t play any part in determining if you get the job or not. Government agencies cannot consider bankruptcies during the hiring process.
Joining the Military
The military, however, can block an enlistment due to poor financial history, especially if you would have a security clearance. On its own, bankruptcy isn’t enough to prevent you from joining the military if you can show it was a one-time event and that it made your financial situation better. If you’ve filed multiple times, had your bankruptcy dismissed by the court, or have fallen back into poor financial habits, you may not be able to join the military.
Need help determining if bankruptcy is right for you or with starting the process? Contact the law offices of Michael F. Kanzer & Associates today.