Someone told me that Bankruptcy affects you for life...

[HopeinHorizon]

Someone told me that bankruptcy affects you for life not just for the 10 years it stays on your credit report...

Do you think that is true? If it falls off and you have excellent credit, would insurance companies or employers still know about it by searching public records, or most of them in the here and now point of view...

You have a 700 credit score, and have responsible spending habits, so thats as far as they will go?

I know that bankrupcty does not show up in background checks that my company does, because they only do criminal query, but what do you guys think?

Will this affect me the rest of my life, or just the 10 years that it is blatently reported on credit report?!?

[Pinktiger]

Not the stigma it used to be.

Well, I can only give you my opinion. But my two cents worth is, BK is not the stigma it used to be. A lot of people think it is still a blight on your life history, but I think the facts derail that notion. The biggest thing it does is, it can give you a new way of looking at life and can help you, by giving you another chance.

[HopeinHorizon]

I understand that, but say for example, when I get my act all cleaned up and my credit reports are golden once again....

Could I let's say be a CFO for a company? If they check my criminal record, I have nothing... If they were to check my credit report, I would be golden..


Does anyone go above and beyond this to check ANY court record filed under your name? I don't plan on being someone rich and famous that the tabloids would want to drag my name through mud or anything, but will it affect a "typical" person's life after the 10 years?

[HopeinHorizon]

Well the finance jobs is what scares me...

I have a job with a mortgage company right now, and as long as I stay with that mortgage company, and produce well, I don't think they would ever pull credit or anything like that on me...

HOWEVER, if something happens, and I want to leave that job will I be able to get a higher profile career job in finance with another company?

[HopeinHorizon]

Well I am prepared for those hard questions...

I want to get a higher paying job soon with my experience, I should be able too, but scared about the credit issues...

However, I plan to be upfront and honest as I don't have much to hide, AND I have a letter from my surgeon that did my surgery last July, that I came in to the hospital ER on 7/3 and was in surgery on 7/4, and that she had never seen me before this episode.

That way, when I said I had emergency surgery and it threw my finances into a tailspin, I have documented proof of my claims to give them also.

I worry to much, I know, but hey, now that I am not worrying about bills, I have to worry about SOMETHING...

[HopeinHorizon]

You have already made me feel somewhat better...

My hope is to eventually work for the government. I want the good health benefits and pension and all that comes with a government job.

I was afraid now with my past, I would not be looked at as a candidate.

I would like to help small businesses prepare taxes or work for the IRS as an agent helping small businesses with their tax questions. I was afraid that would be to high of a profile for me... I guess in a way, I feel like a criminal still...

I have things that I didn't necessarily pay for, and I was raised to believe that is stealing... Oh, I hope the guilt goes away, for the first month or so after discharge I was flying high, but now...

I have the what ifs coming around...

[Minnymouth]

REMEMBER - bankruptcy is a "write off" for the companies - you are not a THIEF...........
People fall upon hard times - EVERYBODY UNDERSTANDS THIS - that is one reason the bankruptcy laws were established.... Also the Good Book talks about "forgiving debts".......... So our forefathers established this into our Constitution.....

Guilty feelings - we all experience them.... it's the way we were raised to feel about such things. That's a good thing!! We will be a lot more care the next time around!!

Don't beat yourself up - shit happens.... and thank goodness society allows us the "right to file bankruptcy"...

Yes it will affect our futures, but life will definetely be better afterwards....

[Roadrunner]

New approach... I think it WILL affect you for life, but I don't mean about the stigma, negativity, etc.

Personally, I think it is a life lesson that will impact how I make financial decisions for the rest of my life. If I forget that lesson, I could wind up back in trouble again and I don't want that!

I have heard that for loans over $X amount, or for high paying/ranking jobs, some sort of full credit history can be pulled that shows more than the 7-10 years. I don't know if it is true, and if it is, how often it comes up. I don't see myself buying a million dollar home, or going to work for the CIA though!

Even if it did come up, though, it would perhaps show more about your character than someone who never had to work for his/her good credit. It would show where you once were, and what you went thru to get where you are now.

[scammer]

[no_it_all]

Like, wow! Tell me, any judgements yet?? I'm clearing about 120K in unsecured CC debt...PM me if you rather...

[Minnymouth]

Scammer and No It All,

Sure you all aren't "kissin cousins"?????

Most people feel bad that they can't or couldn't pay their creditors..................

NOT THE CASE WITH YOU TWO................

Your entirely TWO PROUD of what you say as "beating the system"..........

Hope it don't come back and bite you in the A.... in some shape, form, or fashion....

What goes around, comes around............... in one way or another....

[Graphic]

I don't think it will effect you getting a job. Most companies that DO check that kind of thing only check to make sure you still don't have the debt. They don't like it if you are thousands behind in debt because more than likely you won't focus as hard on THEIR time as you would if you didn't have it. So that's why a lot of companies rather you take care of the debt before you get hired or apply. I mean if you are there thinking about that you definately won't work as hard, so I think it's good policy.

Anyways you'll be fine. Some people might attach a certain stigma to it, but anyone that knows how it works and anyone that has been in a bind at one point or another in their life will realize hey had to do what had to do.

[scammer]

Scammer and No It All,

Sure you all aren't "kissin cousins"?????

Most people feel bad that they can't or couldn't pay their creditors..................

NOT THE CASE WITH YOU TWO................

Your entirely TWO PROUD of what you say as "beating the system"..........

Hope it don't come back and bite you in the A.... in some shape, form, or fashion....

What goes around, comes around............... in one way or another....

Minny,
I used to be a decent Company person, about four years ago several brokers and myself got jerked around by one of the largest brokerage firms in this country. My clients with about $60,000,000 transfered those assets out of the firm. Altogether seven brokers including myself transfered over $400,000,000, (thats million by the way) out of THE largest brokerage firm in the country. You probably can figure out which firm.

Corporate America is not the sweet darling most people think it is. Now I have my own successful Investment firm and no one can take it away. I say steal legally from the super rich Corporation, long live Robin Hood. This is the primary place most of my extreme credit card debits came from.

Minny, deep down inside, you have fire in your belly, I know it by the way you write and post about your situation. If the Brinks truck was driving by your house, crashed, and spilled money bags all over lawn. Then the company name that failed to record your lien was printed all over them, would you give back the bag that rolled under the bush??? I wouldn't if it belonged to this particular firm I have a hate for.........

The world is dark and getting darker, can you imagine what this country will look like in fifty years with the way jobs are leaving this country. You might not like it, but the easy days are behind
us. Clamp down the hatches, prosperity is a dying thing for the middle class and poor.

I used to think attorneys were sleeze, I now worship them as the assualt weapon of choice. Long live the courts of "LAW".

By the way, you won't be hearing much from me, been studying a new interest for a client.
I have been studying up on mandatory arbitration agreements employers make you sign in order to work for the company. Now that is some real sleazy stuff, corporate america strips all your rights away if you want a job......................

[scammer]

Like, wow! Tell me, any judgements yet?? I'm clearing about 120K in unsecured CC debt...PM me if you rather...

Judgements are rough stuff, I was successful in never getting one of those, knock on wood. Also I have the ability to really manipulate my income, so it made my case look better for seven.

I used to have a ton of posts and then one day, had a little health problem. Threw a pity party for a couple of weeks and deleted all my posts.

[scammer]

I don't think it will effect you getting a job. Most companies that DO check that kind of thing only check to make sure you still don't have the debt. They don't like it if you are thousands behind in debt because more than likely you won't focus as hard on THEIR time as you would if you didn't have it. So that's why a lot of companies rather you take care of the debt before you get hired or apply. I mean if you are there thinking about that you definately won't work as hard, so I think it's good policy.

Anyways you'll be fine. Some people might attach a certain stigma to it, but anyone that knows how it works and anyone that has been in a bind at one point or another in their life will realize hey had to do what had to do.

You would be amazed at the percentages that file, wish I could quote.