Sometimes a person dealing with debts needs a little boost. If you are struggling underneath a mountain of debt and finding that it is almost impossible to get caught up with your financial obligations, bankruptcy may be the best option for you. Bankruptcy can provide you with the fresh start you need to move forward with your life. However, some people still hesitate about even considering bankruptcy because bankruptcy can have a stigma attached to it. Moreover, some people are concerned that they will struggle to get a job after declaring bankruptcy.
You may be asking yourself if a potential employer will view your bankruptcy as a negative character attribute and then use that as a reason not to hire you. Or perhaps you’re even worried that your current employer will find out about your bankruptcy and then let you go from your job, leaving you without a steady source of income as you embark on the next chapter in your life and look to avoid the financial issues that necessitated your bankruptcy in the first place.
Post-Bankruptcy Employment in New Jersey
Do not let concerns about post-bankruptcy employment stop you from doing what is in your best interests right now. There are strong legal protections in place that prevent employers from discriminating against employees on the basis of a bankruptcy filing. The US Bankruptcy Code includes specific provisions that bar employers from terminating you simply because you declared bankruptcy. Although this sort of discrimination can still happen, a qualified attorney can assist you and ensure that your legal rights are protected.
Keep in mind that while public and government employers are barred from using a past bankruptcy as a reason not to hire a prospective employee, private employers do have a little more leeway in this regard. If you apply for a job and your potential employer runs a credit check, they may learn about a bankruptcy within the last 10 years. However, there are ways to mitigate the impact of this information. For instance, depending on your circumstances, you may want to mention your bankruptcy during the interview process and provide a solid explanation. A lawyer with an understanding of how bankruptcy works can assist you and help you understand your options before, during, and after the bankruptcy process.
At the end of the day, you may find that the benefits of declaring bankruptcy vastly outweigh any negative consequences – especially when it comes to your job search. For instance, it is not uncommon for job applicants to discover that they have lost out on a job solely because of their bad credit reports. If you don’t file for bankruptcy and continue to forge ahead with bad credit, employers could use this as a reason to reject you. However, a job applicant who has discharged their debts in bankruptcy might be viewed as a stronger candidate for a job because their financial difficulties are behind them and they have taken steps to move forward with their lives.
If you are struggling with debts, bankruptcy could be an option worth exploring. The best course of action you can take right now is to speak with a qualified bankruptcy and debt relief attorney about your situation. Joel R. Spivack, Esq., is an experienced bankruptcy lawyer who can help you get out of debt. Contact Mr. Spivack anytime to schedule a free consultation.