After a successful bankruptcy filing, debtors get a fresh start on their financial life. No more harassing phone calls, nasty letters and the unrelenting stress of where to find the funds to meet your obligations. If you need to look for a new job after having filed for bankruptcy and fear the effect a bankruptcy filing may have on your chances of getting hired, take heart. The law continues to extend you the protection you need to get your life back in order. Employers cannot legally ask you in an interview whether or not you have filed for bankruptcy. Even if you are applying for a cash-handling position, such as an accounting or payroll job, the law prohibits them from asking you outright about your financial history during a job interview.
When reality sets in and bankruptcy becomes inevitable there are some things you can do to deal with the stress of the process. Usually, the biggest thing that stops people from filing is their pride. They may have the feelings of embarrassment and/or failure. In recent years, the topic has become main stream and no longer carries the negative stigma of yesteryear. Remembering this, a person should ask themselves, where would they be in 3 to 5 years if they let their pride get the best of them and didn't file. Kicking the can down the road will only work for so long and at some point in time the inevitable bankruptcy filing will happen. Facing up to it quickly is like ripping a Band-Aid off of a sore instead of pulling slowly and agonizing over it. Realizing that filing bankruptcy is the best option will help a person to move forward and begin the healing process.
If you give your consent, a potential employer will find out about your bankruptcy filing because these are reported in your credit history. A Chapter 13 bankruptcy usually remains in credit reports for seven years, while a Chapter 7 bankruptcy is reported for 10 years.
Another thing one can do to alleviate the stress at this time of their life is to exercise. Many times taking a walk, going to the gym, jogging, riding a bike will help someone blow off some steam and clear their head. Sitting around in dwelling on one's problems is probably the worst thing someone can do.
Once again, all of the individual's property becomes part of the bankruptcy estate and everything needs to be listed. A person will not need to list five pairs of socks worth five dollars, but they will need to list their entire wardrobe as a whole with an estimated replacement value, taking into consideration the age and the condition. Most of the time the attorney will tell the individual to use swap meet prices. Stop worrying about the outcome, the bankruptcy attorney will know how to protect the maximum amount of property using bankruptcy exemption laws.
Filing for bankruptcy is a wake-up call for most people. The experience teaches them to take control and responsibility for the financial, personal and professional aspects of their lives. It makes them more aware and highly appreciative of the opportunities life offers them. All in all, not a bad profile for a future employee - and most employers would likely agree.
Nate Reymundo works for Clark & Washington, a Nashville bankruptcy law office specializing in Chapter 7 and Chapter 13 bankruptcy, with additional locations in Georgia and Florida. With experience and resources unmatched by other firms in the region, the Nashville bankruptcy attorneys at Clark & Washington offer helpful, straightforward legal advice to those in desperate financial situations.
When reality sets in and bankruptcy becomes inevitable there are some things you can do to deal with the stress of the process. Usually, the biggest thing that stops people from filing is their pride. They may have the feelings of embarrassment and/or failure. In recent years, the topic has become main stream and no longer carries the negative stigma of yesteryear. Remembering this, a person should ask themselves, where would they be in 3 to 5 years if they let their pride get the best of them and didn't file. Kicking the can down the road will only work for so long and at some point in time the inevitable bankruptcy filing will happen. Facing up to it quickly is like ripping a Band-Aid off of a sore instead of pulling slowly and agonizing over it. Realizing that filing bankruptcy is the best option will help a person to move forward and begin the healing process.
If you give your consent, a potential employer will find out about your bankruptcy filing because these are reported in your credit history. A Chapter 13 bankruptcy usually remains in credit reports for seven years, while a Chapter 7 bankruptcy is reported for 10 years.
Another thing one can do to alleviate the stress at this time of their life is to exercise. Many times taking a walk, going to the gym, jogging, riding a bike will help someone blow off some steam and clear their head. Sitting around in dwelling on one's problems is probably the worst thing someone can do.
Once again, all of the individual's property becomes part of the bankruptcy estate and everything needs to be listed. A person will not need to list five pairs of socks worth five dollars, but they will need to list their entire wardrobe as a whole with an estimated replacement value, taking into consideration the age and the condition. Most of the time the attorney will tell the individual to use swap meet prices. Stop worrying about the outcome, the bankruptcy attorney will know how to protect the maximum amount of property using bankruptcy exemption laws.
Filing for bankruptcy is a wake-up call for most people. The experience teaches them to take control and responsibility for the financial, personal and professional aspects of their lives. It makes them more aware and highly appreciative of the opportunities life offers them. All in all, not a bad profile for a future employee - and most employers would likely agree.
Nate Reymundo works for Clark & Washington, a Nashville bankruptcy law office specializing in Chapter 7 and Chapter 13 bankruptcy, with additional locations in Georgia and Florida. With experience and resources unmatched by other firms in the region, the Nashville bankruptcy attorneys at Clark & Washington offer helpful, straightforward legal advice to those in desperate financial situations.
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