Bankruptcy & employment
By: Darrell Castle
Your employer CAN’T legally fire you or let you go if you file for bankruptcy – it violates anti-discrimination laws. The only exception to this rule is when the job requires a security clearance or something like that.
It’s very common for clients to be concerned about losing their job if they file for bankruptcy. They shouldn’t be nervous though, for a couple of reasons.
Most employers have dealt with this before or are prepared to do so, especially the bigger companies who have human resources systems in place for dealing with it.
Unless you tell your employer, there’s no other way for them to find out about it. The courts don’t report to your employer unless you request that they do so, or unless they read obscure business newspapers.
There’s no reason to be concerned about losing your job if you file for bankruptcy. File, get yourself out of debt and keep on working that job and earning your paycheck. That paycheck is going to help you rebuild your finances after you’ve gotten yourself out of debt through a bankruptcy.
What about future jobs? Will a bankruptcy affect that?
There’s always a chance you’ll run into a future person who will use the bankruptcy as an excuse to not hire you for the job. But in my experience, that would be a very unusual occurrence unless you’re applying for a job that’s requiring a security clearance.
It’s important to re-establish and rebuild your credit after a bankruptcy. The bankruptcy didn’t ruin your credit – you were behind on your bills and in debt. to begin with That’s what hurt your credit score.
By filing for bankruptcy, you can discharge your debt through a Chapter 7 or lump all of it into an affordable 3-5 year repayment plan through a Chapter 13 depending on what you and your attorney decide would be best for you. Then, once the bankruptcy is complete, you have a clean slate to build a new solid financial foundation.
Darrell Castle & Associates not only wants to help you get rid of that debt through a bankruptcy, but we also want to help you re-build your credit score. We do that by offering you access to a 14-week online course called 7 Steps to a 720. This course, which is free for our clients, will teach you the tips and tricks the banks don’t want you to know in regards to re-establishing and rebuilding your credit score the RIGHT WAY.
You need a bankruptcy attorney you can trust.
You need a bankruptcy attorney who values you as a client – a real person – and not a case number.
You need an attorney who will walk and talk you through every step of the process.
You get all of that at Darrell Castle & Associates, a firm that’s received multiple Client Distinction Awards from Martindale-Hubbel for client satisfaction.
If you’re considering filing for bankruptcy or if you have any questions, call (901) 327-2100 to schedule a free consultation with one of our bankruptcy attorneys. Or, you can fill out one of the contact forms on this page.