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Does Bankruptcy Impact Employment Opportunities?

Does Bankruptcy Impact Employment Opportunities?

Going through bankruptcy can be a strenuous and trying ordeal.  For many, it’s a situation they never thought they would be in, but they also understand that it’s a chance at a new start where they can get their lives back on track.  If you have worked with a bankruptcy law firm like ours, ideally, we have made the experience as pain-free as possible.  Our experienced bankruptcy attorneys have helped many clients through the bankruptcy process and hope to do the same for many more.  With that said, some people who file for bankruptcy still have concerns about the long-term impact that bankruptcy may have on their lives. 

One of the biggest concerns is whether or not bankruptcy can prevent you from getting a job in the future.  There is some nuance involved in answering this question, so we are going to explore that topic in this blog.

The job market can be difficult to navigate.  Finding meaningful employment has never been the easiest task in the world and the uncertainty of how bankruptcy affects your job search can add additional stress to an already challenging situation.  In certain cases, the fear of bankruptcy negatively influencing a job opportunity will flat out prevent people from applying for a job, which they may be otherwise qualified for.  It can also be such a concern that it stops people from filing for bankruptcy in the first place.  While bankruptcy is not the nail in the coffin on finding good paying jobs, there are certain aspects of bankruptcy that may have bearing on how easy it may be to get some of those jobs. 

One of the biggest fears about how bankruptcy can impact your employment is whether or not a job can fire you.  To start off, you do not have to report your bankruptcy filing to your current employer.  There are no laws that state you have to make your employer aware of your filing and you can rest assured that you cannot be fired for filing for bankruptcy.  This does not necessarily mean that your job will not find out about your bankruptcy because your filing will be part of public record.

While filing for bankruptcy will not be the cause of you losing your current job, it may the reason why you will not qualify for a job in the future.  There are certain cases in which having a bankruptcy on your record can prevent you from being employed for specific jobs.  Some employers will run a credit check and will then discover your bankruptcy.  In the private sector, an employer may see this and perceive it negatively.  If you are applying for a job where you are handling money, an employer may think twice about hiring you.

The truth is, in many cases, bankruptcy is not something that will prevent you from getting most jobs.  If the thought of bankruptcy having an impact on your career is weighing on your decision to file or not, rest assured that the benefits offset any potential negative outcomes. 

The bankruptcy attorneys at Nikolaus & Hohenadel are here to help you get a fresh start in life.  We are a bankruptcy law firm that looks out for our client’s best interests.  Contact us today to see how we can help you with all of your bankruptcy needs.