Why won't a bank hire someone who has filed bankruptcy?

Question

I am 26 years old. I have made a few mistakes in my life. But when I was pregnant with my son, I was in and out of the hospital a lot. I racked up some severely expensive hospital bills, among other things, and I got over my head in bills. This all happened before I was 21. My husband and I decided that bankruptcy was our only option. I am a lot more mature now and I would like to get back to working at a bank. Banking is what I know best because I worked previously for a bank. I loved it. I just want to know why I can't get a second chance. I'm not a theif and I don't have a criminal record. I am a church going person and would do anything for anyone. I just needed help and bankruptcy did that for me. I just wanted someone else's perspective on this.

Answer 1

I was hired by a bank and I claimed bankruptcy. Are you sure that this company is not hiring you for other reasons and using the bankruptcy as an excuse? I would set up a meeting with the President or Vice President of the bank and explain your situation. If you are completely capable of performing the job, their is no reason why they should not hire you.

Answer 2

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RE Why won't a bank hire someone who has filed bankruptcy?

I am 26 years old. I have made a few mistakes in my life. But when I was pregnant with my son, I was in and out of the hospital a lot. I racked up some severely expensive hospital bills, among other things, and I got over my head in bills. This all happened before I was 21. My husband and I decided that bankruptcy was our only option. I am a lot more mature now and I would like to get back to working at a bank. Banking is what I know best because I worked previously for a bank. I loved it. I just want to know why I can't get a second chance. I'm not a theif and I don't have a criminal record. I am a church going person and would do anything for anyone. I just needed help and bankruptcy did that for me. I just wanted someone else's perspective on this.

Answer 3

It's just perception, and is normal practice in the way background checks are interpreted. A bankruptcy shows a major financial irregularity in your past. It hints at the possibility that you MIGHT be a threat to the organization (you MIGHT steal money). Most important jobs will follow this example. Collection agencies are one example. I serve in the military. A bankruptcy could prevent someone from being eligible for a top secret security clearance, which prevents them from being eligible for certain jobs.

You ARE allowed to make mistakes, but expect a "probation period" at least until that comes off your credit report, by chance. You'll get to work for a bank again, perhaps just not any time real soon.

Good luck.

Answer 4

You ran up debts and didn't repay them. Banks and financial places tend to not look to kindly upon that.

Technically, a bankruptcy can't be used as a reason to not hire, but bad credit can be. From the linked article:

"While other black marks can be used against you, technically a bankruptcy cannot. Under Title 11 of the U.S. Code, employers are prohibited from discriminating against someone who has filed for bankruptcy. Since most people have trouble paying their bills before they file, this is often a moot point -- the employer can point to that history as the reason for the “adverse action.” If an employer makes the mistake of citing your bankruptcy as the reason you were fired, not hired or denied a promotion, though, you might want to consult a labor attorney about a lawsuit."

Answer 5

Banking is one industry where they are definitely going to do a background check and that is going to come up. If you are that young and you already went through a bankruptcy, that doesn't fit in with the routine, spend-thrift, banking lifestyle. You can try to explain your situation to them, but there are going to be many other candidates who have clean records that you will be up against.

Answer 6

maybe they don't think you would be able to handle managing money figuring you filed bankruptcy. maybe they think you're not competent enough or maybe they are afraid you might try steal the money. who knows. i think it's ridiculous how they can be judgemental about somebody's finances. it"s ridiculous. alot of places do that now not just banks. i started working at wal-mart and they did a credit check. it's like what the hell for? as unfair as it is they have that right to pick and choose based on that information. raises a red flag without them knowing all the details. yea it's crap

Answer 7

it relies upon on what you could nicely be doing. besides the fact that if that's a teller place, with little intentions of progression into administration, you could nicely be ok. you may desire to tell them earlier than time in the event that they do a credit examine approximately your take a seat and clarify it if conceivable. for ie, scientific costs compelled the financial disaster, if that's what it became. they examine because of fact BR is a demonstration of undesirable determination making financially.

Answer 8

1. Banks are entrusted with other people's money. They are loathe to hire people who have demonstrated they cannot handle their own.
2. People who have had financial trouble are seen as a potential theft risk.

No offense to you, I'm sure you are trustworthy.

Answer 9

Although I empathize with your situation... In order to help people manage their money you have to be able to manage your own no matter what happens.

No offence but I wouldn't want someone who filed bankruptcy managing my money. Even with the extreme circumstances.

Answer 10

because they fear that you need money and may try to steal it. also, they see bankruptcy as a sign that you are a poor manager. i am sorry to sound cruel, and i disagree with the logic, but it's the sad truth. especially since the credit card industry shoves credit cards like candy