Chpter 7: Getting a professional job after a discharge- is that posible?

[ebony074]

[B65]

well

My hubby had to file in 98.... previous marriage, he walked into a great job after that..... so I can only answer yes you can get a good job after.
not sure what anyone else will say..

Good luck!

[Recessionist]

There are no guarantees. To some employers a BK is better than seeing the bad credit and defaulted accounts. As more and more people suffer in this economy, future employers will have to come to terms with re-evaluating the way they look at the credit history of prospective employees. There is hope there. Perhaps your experience with the bankruptcy can put you in a position to help a future employer avoid overextending themselves and making unwise financial decisions.

I have been on the job hunt and worried how my credit and job history could affect my ability to get a new job. But, I can't change the past, and I can't change the truthful information on my credit report, so I have had to concentrate on being outstanding otherwise.

[jessegirl]

My friend had filed many years ago and landed a job 1 year later working for a financial company. Nothing was ever mentioned about the BK. Now, things are different that was back in the early 90's. You just never know with companies. Goodluck

[MichiganMan]

I was a hiring manager at two large banks.

I used to be the hiring Manager for two very large banks. Not only did I go through an extensive credit and background check, every person applying for a position did.

At Banks and in the finance industry you are a greater risk of embezzlement if you have poor credit. In most cases you have to be bonded to maintain a position with them. Some bonding agencies will not cover you if you are of increased risk. Some banks self insure in this area and have complete control of the hiring decision.

I had a great credit score before starting both of those positions. I started where I am at now before I filed and I still had my better rating and no BR on my report. Even my current employer checked my credit.

When I hired folks for the banks and HR was concerned about the credit report, they advised me of the situation and asked if not hiring this person would be an issue. If I said i would like to consider them we reviewed the report and asked the person about the issue and made a call. Unless the bonding company said no way we had some room to make a call. Criminal record was pretty sure you would not get a second interview let alone an offer at a financial company.


I am pretty sure my days of managing in a bank are behind me anyway.

[time2restart]

I'm assuming our Ch 7 BK will go fine. And since my lawyer said NOT to get work until after we file (and possibly 341 meeting), this is my only issue left (getting work again).

I'm in IT. I'd make an educated guess that more "doors" will close when looking for a new job after my BK. However, I gotta look forward and get whatever I can.

One "good" way to look at it is I do NOT need to make as much as I did before, since my total minimum CC payments was about $2k monthly. But after the BK, I no longer will have to make those payments!

I know it's against the law to NOT hire someone because they have a BK record, but it does NOT mean it doesn't happen.

[jribe]

michiganman

are you still working for the same company (bank)? Do you think the BK will affect your employment?

The reason i ask- i have worked for a large bank for the past 4 years; and haven't filed yet.. I am hoping that i wouldn't get let go for it, or "another reason".

I'm actually looking to transfer out of retail; and have a pretty promising offer with institutional brokerage... Anyway- just wondering about your experience.

I used to be the hiring Manager for two very large banks. Not only did I go through an extensive credit and background check, every person applying for a position did.

At Banks and in the finance industry you are a greater risk of embezzlement if you have poor credit. In most cases you have to be bonded to maintain a position with them. Some bonding agencies will not cover you if you are of increased risk. Some banks self insure in this area and have complete control of the hiring decision.

I had a great credit score before starting both of those positions. I started where I am at now before I filed and I still had my better rating and no BR on my report. Even my current employer checked my credit.

When I hired folks for the banks and HR was concerned about the credit report, they advised me of the situation and asked if not hiring this person would be an issue. If I said i would like to consider them we reviewed the report and asked the person about the issue and made a call. Unless the bonding company said no way we had some room to make a call. Criminal record was pretty sure you would not get a second interview let alone an offer at a financial company.


I am pretty sure my days of managing in a bank are behind me anyway.

[MSH]

The current and future job thing scares me as well.
I hope my current position does not find out... and if they do, i hope they look at the more of the better things i do to help make the company better.

Scary.... but, the bad debt and low score on my report will probably look worse to them.

[Chptsevenchains]

Well sad to say; I was affected by my discharged bankruptcy. I have been unemployed for 7 months and on the job hunt religiously since day one.

My experience is in financial services and I have had a concern in the back of my mind about the bankruptcy, but since my discharge I have been able to maintain a car loan and 2 credit cards in good/current standing so I thought that would be enough when reviewing my current standing.

I was offered a position with a financial services company on 4/29 at 11:00am and the offer was rescinded after I signed off on credit/background check at 1:40pm. I was told it was due SOLELY because of my bankruptcy. I received a letter with a copy of my credit report yesterday.

While this was a major blow for me, it has also created an additional problem with my career focus. I have spent close to 11 years in financial services, how can I restructure my resume, career goals and field into something else?

In today's economy, there are so many people looking for work that trying to change fields is almost impossible if you don't have the necessary experience.

[MSH]

I think once the job market picks up again, it will be easier for people. Right now there is a lot of competition out there. I have done a lot of research the last few months and there are people in the financial industry and with security clearances that have filed and are fine.
Just try to keep thinking positive....When they run a credit check, a BK has to look better than all the bad debt on your report.

[MichiganMan]

New company is not a bank

are you still working for the same company (bank)? Do you think the BK will affect your employment?

The reason i ask- i have worked for a large bank for the past 4 years; and haven't filed yet.. I am hoping that i wouldn't get let go for it, or "another reason".

I'm actually looking to transfer out of retail; and have a pretty promising offer with institutional brokerage... Anyway- just wondering about your experience.

I am no longer working in the banking field, I am still in IT though. If you are looking to transfer out of retail and into operations or such at the same bank you will probably be fine. We never went back and looked at credit reports or criminal history checks of current staff unless they were being exposed to a much larger amount of assets or they are under internal investigation.

If you are looking at changing institutions completely I would do it before you file BK. Most banks will not hire you with a BK active or fresh. They will if you have had a few years of building credit after the BK but that is subject to discretion of the bank. The last bank i was at 6 months ago was very critical as they self insured. They questioned student loans showing missed payments, any tax lien pretty much cut you out completely. i did however get to hire a couple individuals I wanted, one with student loans in the red and one with a tax lien on the house. I asked them for a letter of explanation on the circumstances and the tax lien individual provided a dishcarge of lien from his county office showing it was cleared up but still reported.

HR allowed me to hire them. Most however were not hired because of how many people were available for hire. These two I wanted pretty bad so I got to work with them. You need to make yourself the one person they want in the position. It is hard.

[fireworks]

You might have better luck at a smaller company. They tend to do more thinking about the situation rather than following rigid rules and computer models. I just started my new job yesterday, working for a small local company, they never asked about my credit score and I never brought it up. They know that I recently closed my store, we talked about why the store didn't make it (bought too much on credit) so I'm sure they have an idea of how bad my score is. I did sign a form stating that I agreed to a credit check but I doubt they'll deal with the hassle. Right now my score is terrible since I haven't paid my CC bills in 3 months. BK filing is around the corner (which might actually bring the score UP).

If you're looking for a job dealing with other people's money then you'll probably have a harder time with it, but I still suspect you'll do better with your local bank/CU rather than Wells Fargo or BOA.

[MichiganMan]

They do not care about the score.

You might have better luck at a smaller company. They tend to do more thinking about the situation rather than following rigid rules and computer models. I just started my new job yesterday, working for a small local company, they never asked about my credit score and I never brought it up. They know that I recently closed my store, we talked about why the store didn't make it (bought too much on credit) so I'm sure they have an idea of how bad my score is. I did sign a form stating that I agreed to a credit check but I doubt they'll deal with the hassle. Right now my score is terrible since I haven't paid my CC bills in 3 months. BK filing is around the corner (which might actually bring the score UP).

If you're looking for a job dealing with other people's money then you'll probably have a harder time with it, but I still suspect you'll do better with your local bank/CU rather than Wells Fargo or BOA.

They do not just pull your FICO. They do not care about the FICO score they care about the content on the report. I have hired people for banks on and off for twenty years and we do not look at the FICO. We look at the individual creditors and any legal judgements. legal judgements, liens and higher stuff gets the attention and scrutiny. Do not really care about one or two 30 day late on a store credit card.

[shabam]

They do not just pull your FICO. They do not care about the FICO score they care about the content on the report. I have hired people for banks on and off for twenty years and we do not look at the FICO. We look at the individual creditors and any legal judgements. legal judgements, liens and higher stuff gets the attention and scrutiny. Do not really care about one or two 30 day late on a store credit card.

You know, I don't know where they came up with such models but just because someone has financially fallen on tough times, does not mean they will resort to embezzlement or corruption. A criminal is a criminal. Whether their credit report is 800 or 300. Whereas an honest person is an honest person. Maybe we should do the same thing to executives or CEOs who drive billion dollar companies into the ground yet get to walk away Scott free.

Same deal with auto insurance. Some bean counter has figured out a way to discriminate against people who are most vulnerable and make them pay more. In my experience, most of the people / teenagers I know of who regularly total brand new cars, are wealthy. Basically, they don't give a crap and know they can buy a new car with ease.