Bankruptcy And Your Job

In a financial crisis, bankruptcy is sometimes the most responsible thing a person can do. Nevertheless, if you file for bankruptcy, some people around you may begin to wonder if you’re still responsible and trustworthy. You can’t help that, but one thing you shouldn’t have to worry about is your job. The law prohibits your employer from discriminating against you in any way when you file for bankruptcy. Most employers in the Chicago area know that firing someone over a bankruptcy is illegal, but if you have any concerns, speak about them at once with an experienced Chicago bankruptcy lawyer.

While your current employer may not legally discriminate against you when you file for bankruptcy, prospective employers are a different matter. Frankly, a bankruptcy may impair your ability to obtain some jobs in the financial sector or some government jobs that require a security clearance. But even in these narrow situations, a single bankruptcy filing by itself will rarely keep you from obtaining employment. Most employers will be more concerned with the circumstances of your bankruptcy and your own honesty in disclosing the facts forthrightly. The best thing you can do is take responsibility for your bankruptcy, adhere to its terms, and start working to re-build your credit. A good bankruptcy lawyer can advise and guide you through the process.

Be candid with a potential employer from the start; explain exactly why you filed for bankruptcy and what steps you’ve taken subsequently to meet your financial responsibilities. That will satisfy most employers. Still, if you are denied benefits or a promotion by your current employer because of your bankruptcy; if you’ve been wrongfully terminated; or if you have any other questions or concerns about how a bankruptcy may affect your employment in the Chicago area, consult promptly with an experienced Chicago bankruptcy lawyer.