hi, i am a HSBC bank manager who is planning to file a bankruptcy petition. my problem is i have 3 credit card debts with HSBC affiliated banks and credit card companies. should i file reaffirmation agreements regarding those credit cards debts? if I dont file reaffirmation agreements, will it affectmy job at HSBC. thanks a lot :)
2007-12-26 08:03:21 · 4 answers · asked by neollakent 1 in Business & Finance ➔ Credit
I think that it would affect it. I used to work for U. S. Customs, and God forbid if you didn't file your taxes on time. Customs at the time was part of the Treasury Dept. as was IRS.
Do what you can before you are found out by your supervisor's and do it quickly. It will show them that you are being up front about your financial situation, otherwise, they may think that you are intentionally hiding it and may give them a good reason to either can you or demote you.
2007-12-26 08:11:59 · answer #1 · answered by Steveo 5 · 1⤊ 0⤋
When it comes to credit cards I don't believe you can reaffirm these debts. If you are claiming some of the credit cards I believe you will be required to include them all. I had a very hard time reaffirming my car loan when I filed my bankruptcy and that was before the laws changed. I had to prove the necessity of my vehicle in my everyday travels for work. I would consult an your attorney, assuming you are using an attorney.
Also with the new laws you are still responsible for the debt and will be required to go through credit counseling. Have you done everything you can to avoid bankruptcy?
As far as your current employment, I don't believe it will be effected however I would review the company policies to see if anything is mentioned regarding this.
2007-12-26 08:14:01 · answer #2 · answered by nu_girlie 2 · 1⤊ 0⤋
obviously you have to re-affirm the HSBC debt if you want to keep you job there.
But i am confused..if the HSBC cards is what's making you file bankruptcy..i don't see what the whole point is fo reaffirming, if you only go right back to where you started, with crappier credit to boot.
Unless you have a boat load of "other" debt that's killing you.
good luck.
2007-12-26 08:11:41 · answer #3 · answered by lilpuppy6 3 · 0⤊ 0⤋
You are a risk to a bank as an employee. And they will look at you as just that.
2007-12-26 08:09:36 · answer #4 · answered by ed 7 · 0⤊ 1⤋