People sometime may face financial difficulties when they no longer have the ability to payout their debts to their creditors or lenders. One way you may want to consider dealing with your unpaid debts is to file bankruptcy for debt relief.
Commonly, there are 2 types of bankruptcy filing in the U.S for personal bankruptcy. Chapter 7 refers to liquidation bankruptcy when you do not have to repay your debts. Chapter 13, also known as reorganization bankruptcy, which you have to pay partial of your debts. Filing bankruptcy seems to be a good solution when you are experiencing financial hardship. However, you need to take full consideration before doing so as it may affect your credit score which could cause many inconveniencies especially when you are looking for a job.
Credit score can be one of the evaluation criteria when employers choosing job applicants. According to a research study, 25% of employers would do a credit check during the hiring process. Employers are able access to your credit record through the Public Access to Court Electronic Records system. However, they need to notify you and gain your written permission before accessing your credit report.
Do I still have a chance to find a job if I have already filed bankruptcy?
The answer is YES.
Most jobs that require credit check are financial institutions or positions working with confidential information. Try to avoid applying these positions if you do not want employers checking your credit report. If you are currently employed, you may want to pay attention to the anti-discrimination law as it can protect you from receiving unequal treatment in the workplace and you cannot be fired by your employer solely based on filing bankruptcy.