Can bankruptcy hurt me when applying for a job in accounting. I am an accounting major and may need to file?

Question

I am paying for mistakes I have made in the past. Am definately smarter with money and am going to college for accounting. I may have to file bankruptcy but want to make sure that it will not keep me from getting a job in the field of accounting after graduation or from earning my CPA.

Answer 1

How long till you qualify in accounting ?

Have you read the subject material on bankruptcy and receivership ?


Bankruptcy is when other alternatives are not available.

In reality terms yes it will hurt you, so should be avoided if at all possible.

Sure on paper it may not say this, but in reality when people are looking at you to manage their accounts, their money you can bet they will take a very active interest in this information and yes it will turn most of them away before they let you lose their money or prove you will not...


Getting to the brink of bankruptcy then managing to trade or work your way out of it can be good for your professional reputation.

People able to perform such rescues are very popular.

Sure how you arrived in such dire straits will be an early question, but what they will be interested in is that you rescued yourself from this position, so you may be able to rescue them and or prevent them from ending up there..

Legal impact upon professional employment will depend on the laws covering accounting wherever you are.


Set out your plan to avoid bankruptcy.

After you have had enough holes picked in that to show it is not at all realistic from an accounting point of view, then have your fall back position for how you will trade out of bankruptcy.

When enough holes picked in this showing it is also not realistic from an accounting point of view, then prepare your how you will cope with being a bankrupt paper.

BTW I am not an accountant, nor have I been bankrupt...

Answer 2

Bankruptcy will haunt you no matter what job you do but especially if you are going to work in the financial sector.

If there is any possible alternative to bankruptcy then take it. If you have to file bankruptcy this information is readily available to future employers and even if they don't ask you about it you will always be looking over your shoulder wondering whether they will ever find out.

The only route I can think of if you do file bankruptcy is to look for work in the bankruptcy sector where maybe first-hand experience would not count against you!

Check out this website which has some very useful advice about alternatives to bankruptcy. I hope this helps.

Good luck!

Answer 3

Not only Accounting job,any other job you do, bankruptcy will be a black mark. It is very hard to come over. Needs lot of courage and hard work to come up to a level where the society can respect you.
Before doing re consider, if you can avoid, by working extra hours, do it. At the end of the day you will be happy.

Answer 4

I'm pretty sure it wouldn't hurt you unless the company you wanted to work for runs a background and credit check. A lot of newer companies are doing credit checks to determine how trustworthy you are.

If your background check comes up clean, but your credit report shows that you have had many financial problems in the past, why in the world would they ever hire you to do accounting for them?

A lot of times it is easy working with creditors to just pay them back, if the debts are in the past a lot of times the creditors will basically take just about anything they can get money wise. If you own them $2,000 sometimes you can get them down to a few hundred bucks. They wrote you off a long time ago, but it is still on your credit report.

Good luck.

Answer 5

Oh yeah! BIG TIME!!!

Even if you don't go for your CPA, many companies run credit checks are part of their standard hiring practices. It could even hurt you in non-accounting professions.

You should try to find a way to avoid bankruptcy or maybe even change majors.