How a bankruptcy may just harm your chances of getting that new job

22 May

A novel practice in hiring mandates applicants to a job to submit to a credit check. Potential employees with poor credit are a theft risk, and may have other issues that would not come up in a resume, or in other portions of a background check. A bankruptcy in your past is not a legal reason to bar someone from employment, but unfortunately, employers are not required to inform an applicant why their application was declined.

This means that bankruptcy might actually be more harmful to your chances of turning your life around. To an unemployed person, a bankruptcy causes considerable damage to their odds of finding a future employer, simply because although it’s illegal, employers are using bankruptcy to quickly turn a pile of applicants in to only a few.

Even though you may have a job now, consider for a moment that lifetime careers are more and more a thing of the past. The ideal job where an American works from 21 until he or she retires is becoming a myth, so even if you have a job when you filed that bankruptcy, you might not well before the bankruptcy stops appearing on a credit report.

This does not mean that bankruptcy isn’t a real need in some cases, but with the climbing trend of necessitating a credit check, it should be cautiously considered in with the other factors revolving around a declaration of bankruptcy.

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