Financial status affecting future employment.?

Question

I am thinking of pursuing an MBA with a focus on accounting. The thing is, my husband and I are thinking of filing chapter 13. We both have credit that was destroyed by our first marriages. How will filing for bankruptcy affect me when I go seeking employment?

Answer 1

Most places are now doing credit checks, and background checks on future employees. Since your career is with accounting and you will have access to checking accounts and credit card accounts you would be considered high risk. Meaning that you are more likely to steal than someone who has all of their finances in order. I would do all you can to stay out of filing CH 13.

Also if you are working for a large company they may want you to be bonded, I have seen this more and more. You will most likely not be able to get bonded with a Ch 13 on your credit report.

Answer 2

It may affect you when seeking employment in financial fields. However, if you are honest when applying and don't try hiding certain facts (only when asked of course) you should be alright. I would recommend making sure before you file that it is imperative. I have a close friend who filed chapter 13 and the courts have really caused her a huge amount of stress and are taking large payments out of her pay (automatically). Chapter 13/Bankruptcy laws have changed so much that it seems as though they penalize you. Oddly enough, it seems as though she is being punished for not having enough money.

They didn't approve of her payments for nearly 9 months, and she is still dealing with the IRS despite her filing...

Good Luck and your education will help your future and I am sure you will be a success!!!!

Answer 3

I don't see how bankruptcy could have any affect on your employment. Employers don't base their hiring decisions on credit.