Once you’ve filed bankruptcy, chances are you’ve already gone through a lot of grief. Once the worst is behind you, it’s time to make financial plans to get back on your feet. A key part of this is, obviously, finding a new job and starting to save again. The catch-22 of this, however, is the effect of bankruptcy on your job search.
It shouldn’t come as a surprise that potential employers will be wary of someone who has poor credit and has filed for bankruptcy if you’re applying for a job that involves handling large sums of money. Firms can look into your credit score when it comes to hiring you, and even if your score has improved since bankruptcy, they can still take your financial past into account. However, a potential employed are much more likely to be critical of someone who is still in debt then someone who has taken care of the issue and moved forward.
Bring in bankruptcy can could affect your ability to get jobs that include any sort of money management, including doing payroll although not technically legal for a potential employer to turn you down just because you’ve declared bankruptcy.
However, it’s not all bad news. There are some ways to still sway employers in your favour. Bankruptcy shouldn’t is not an end of great career choices. Just because you’ve made financial mistakes in the past, does not mean you won’t get a chance to make changes and improve your finances.
Some tips for job searching after bankruptcy include:
- Get Recommendations: Having references from past jobs, or even asking past employers or other business contacts to recommend you for a job will give potential employers more faith in you.
- Be Honest: If a potential employer questions you about your credit, or bankruptcy, during the interview process, be open and honest about your financial problems. Lying about the situation or trying to cover it up will only make it worse! Explain how and why you had to declare bankruptcy, then explain what you learned from the situation and the steps you are taking to make it right.
Don’t forget that employers cannot ask you questions about your bankruptcy, credit, or garnishments during an interview, nor can they refuse you a job based on your credit. Be aware that even though you’ve gone through bankruptcy, you still have rights.
If you are struggling with debt, thinking about declaring bankruptcy, or have declared bankruptcy, we at Kevin Thatcher and Associates are here to help you get through the process. Contact us for a consultation today.