When it comes time to file for bankruptcy, the most important questions people ask are often job related. It stands to reason, if you have been through or you are about to go through a bankruptcy then you will be pretty focused on your income.
The three most common job related bankruptcy questions are:
- Will it cause me to lose my job? No public or private employer is allowed to fire you on the grounds that you have been through or are going through a bankruptcy. However, they can still fire you for things like negligence, tardiness and other valid reasons. If you went through a bankruptcy and then you were fired shortly after then you may have a case against your employer for illegal discrimination.
- Will it stop me from getting a job? No government agency can use your bankruptcy as a reason not to hire you but a private company can. If you are applying for a job that deals with money, as in banking or bookkeeping, your bankruptcy can definitely be a detrimental factor. If you apply for a job and they ask you to give consent for them to run a credit check, just be upfront and honest with them. Your honesty could outweigh any negative impact your bankruptcy might have.
- Will it affect my security clearance? Security clearance used to be primarily in the military or government agencies like the CIA or FBI. However, with massive technology companies becoming more prevalent, security clearance is becoming a factor in the private sector as well. The good news is that a bankruptcy can actually help your security clearance. If you had a lot of debt, you could be blackmailed or temped by money to give away secrets. If you have just gone through a bankruptcy then you are debt free and much less of a security risk.