BANKRUPTCY UPDATES

• Prized Dance Studio in Lower Manhattan Files for Bankruptcy Help (June 17, 2013)
• Famed Tech Investor Halsey Minor Files for Personal Bankruptcy (June 03, 2013)
• Leader of Arizona School District Files for Chapter 7 Bankruptcy (June 05, 2013)
• Study Says Cancer Patients More Likely File Bankruptcy (June 06, 2013)
• Investment Bank Ledgemont Capital Files for Chapter 7 Bankruptcy (June 05, 2013)

Finding a Job after Bankruptcy

Finding a job after filing for bankruptcy could be an important part of rebuilding your credit, especially if unemployment or underemployment led you to the financial distress that made bankruptcy a necessity in the first place.

Many people still worry that a post-bankruptcy job hunt will be difficult because of their financial past.

There are a lot of concerns and myths around bankruptcy. If you're considering filing bankruptcy as an option to manage your debt, get the straight answers from a local bankruptcy attorney. Simply fill out the form below to arrange a free, no-obligation consultation today.

The Post-Bankruptcy Job Search

Many people may be worried about their job options after bankruptcy, especially during times of high national unemployment.  A potential employer will be able to see if you've filed bankruptcy by doing a credit check.  A bankruptcy filing could remain on your credit report for up to ten years, so if you've sought bankruptcy protection in the more distant past, check a copy of your credit report to see what shows up.  You can decide whether to discuss your bankruptcy with a potential employer as it may give you the opportunity to explain the situation that caused you to file, but you will have to determine if this is a good choice for you during the interview process.  The good news is that having a bankruptcy filing on your record isn't necessarily a deal-breaker for all future employers.

Is It Legal to Not Hire Someone Because of Bankruptcy?

This issue is of great concern to many people, and understandably so: finding stable employment is often one of the most important factors in determining whether or not a person establishes strong finances after bankruptcy. Here's what the law has to say:

• Federal bankruptcy law prevents discrimination against employees based on a bankruptcy filing: The U.S. Bankruptcy Code states that a private employer cannot discriminate against a current employee or terminate an employee solely because they filed for bankruptcy. Keep in mind though that this is related solely to the bankruptcy filing and does not mean an employee can't be terminated for another issue.  Additionally, if an employee works in a finance-related field or has a government security clearance, they may face stricter standards.
• Bankruptcy may prevent you from being hired: In the recent case Rea v. Federated Investors, a U.S. District Court found that a non-government employer may choose not to hire someone because of a past bankruptcy. Recent appeals rulings have upheld this in several states, but the specifics may vary depending on where you live. The law also prevents public employers from using bankruptcy as a reason for not hiring someone, but private business may be exempt.