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Can you lose your job because of BK13?

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    Can you lose your job because of BK13?

    To all,

    Can you or your spouse lose your job by filing for BK13? I have read that may affect you if you work in finance etc. But what if you work for a finance/banking company but not in any financial capacity? IE: Medical component for company with no decisive or authoritative capacity for monetary policy or decisions. Thanks all

    #2
    I have never read about anyone losing their job solely because they filed bankruptcy. Now, if you hold a particular security clearance or have a financial services license, it could contribute to you losing your job. Still, I haven't heard of anyone losing their job for these reasons. Typically the only people that may be exposed are those in the financial industry with a fiduciary responsibility, and those holding governmental security clearances.

    Even then, the government won't fire someone "solely" because they filed bankruptcy. For security clearance holders that has to be a pattern or disregard for financial responsibility. So long as you have a good reason why you filed, you would be fine. I had a 5-year review on my security clearance when I was 1 year from discharge in my Chapter 13. Let me tell you they knew everything down to each creditor. The reviewer interviewed me and I explained things and he said he thought my renewal would go normal. It did. Others have not been so lucky when it's a pattern of abuse (e.g. filing Chapter 7, getting the discharge, then immediately being back in trouble.)

    Good luck to you. I don't think it's an issue... especially where it's a Chapter 13. A Chapter 13 is a reorganization of debt and the debtor does try to pay back the creditors. This is seen more positively than a straight Chapter 7 although the impact of the Chapter 7 could be minimal based on the reasons for filing.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      Thank you, this question was for my spouse. She is an in house medical personnel for a financial company. Appreciate the response.

      Comment


        #4
        Originally posted by rjl0206 View Post
        Thank you, this question was for my spouse. She is an in house medical personnel for a financial company. Appreciate the response.
        I was a Senior Analyst for a financial services company (large enough to have their name and logo plastered all over an NFL stadium) when I filed Chapter 13, nobody said a word.
        Chapter 13 (not 100%):
        • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank cum Bank of Southern California
        • Filed: 26-Feb-2015
        • MoC: 01-Mar-2015
        • 1st Payment (posted): 23-Mar-2015
        • 60th Payment (posted): 07-Feb-2020
        • Discharged: 04-Mar-2020
        • Closed: 23-Jun-2020

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          #5
          Thank you for this.

          Comment

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