Will Bankruptcy Impact Your Career in Philadelphia?

Will Bankruptcy Impact Your Career in Philadelphia?

As Philadelphia bankruptcy lawyers one of the biggest concerns we hear is whether taking the step of declaring bankruptcy will impact our client’s abilities to pursue their careers, or even to stay employed.

Since your ability to make money is generally the greatest asset you have, this is a great question to ask. Fortunately bankruptcy rarely keeps people from moving forward in most careers. As ever there are some exceptions.

It’s illegal to use bankruptcy to discriminate against an employee.

No employer can refuse to hire you because you’ve filed for bankruptcy, and no employer may fire you because you’ve filed for bankruptcy.  You are protected by the United States Bankruptcy Code.

If you feel you’ve been discriminated against you may have grounds for pursuing a civil lawsuit against the employer in question.

You are not required to disclose your bankruptcy to your current employer.

There’s a good chance your current employer will never find out about your bankruptcy, unless you owe your employer money and include that debt in the bankruptcy. You can also disclose your bankruptcy if you choose, but nothing compels you to.

Nobody will send your boss a letter or shoot your boss a phone call. Your financial life remains your business.

Some potential employers may pull credit.

If you’re in the middle of a job hunt you should know some employers can and do pull credit. They are allowed to pass you up for employment based on your credit score, or due to past delinquencies on your credit report.

Usually this happens in positions of high trust, where you’ll be dealing with financial matters, or high-value assets. This can also happen when you’re pursuing a position that requires some sort of security clearance, or a position in law enforcement.

Having a bankruptcy does not bar you from these professions, but it can make it a little harder to get employed. However, if you’re already drowning in delinquencies bankruptcies won’t hurt or help any

Your credit score may improve when you file for bankruptcy.

If your employer is only checking your score, rather than scouring the entire credit report, you may be in luck. Your credit score tends to get higher after your discharge. Months or even years of late payments, missed payments, and delinquent accounts get removed virtually overnight.

What remains is a clean slate, and while your credit may not be great, it might nevertheless be as many as 20 points higher when the process is complete.

There are ways you can help your job search even if you think your employer will pull credit.

Business Insider suggests being up front with your employer about your financial past, remaining aware of your rights, and coming armed with lots of letters of recommendation. Remember employers aren’t monoliths: they’re people just like you are, and some of them might have had some financial trouble in their past, too. And if your bankruptcy is for medical or other unavoidable reasons, you might not have any trouble at all.

Don’t let fear of future career issues stop you from filing for bankruptcy if it’s the right financial move for you. There’s every chance you will bounce back and get on with your life. Your career might even flourish once you’re no longer distracted by financial trouble!

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Lavern Baker
Lavern Baker
17:03 23 Feb 18
You are all super lawyers. Brad and Matt made me feel comfortable. Every one in your office so nice and just made it easy. You’re the best!
peter b
peter b
19:42 21 Feb 18
Thank you, Sadek and Cooper Law offices for your dedication on my behalf. I appreciate Matthew and Patrick and your staff and all that everyone did to support me in this legal matter. You took an embarrassing, sad experience, for me, and turned it into a successful solution without all the emotional pain expected. After dealing with a loan modification company for over eighteen months without going to an attorney first that is the biggest mistake anyone can make. The Modification Companies set out to sell you lies, broken promises and dilute the homeowner's assets with no knowledge of any kind of law. I can't stress enough stay away from Modification companies, as a Military Veteran and family man, protect you or your family best interest. Go directly to Sadek and Copper you will not regret it! This firm moves with Super speed and diligence protecting you and your family's the entire process, even after watching some of these other attorneys in the courtroom appearing to mishandled their clients’ cases before the Trustee. You made it easy and I’m finally getting my financial life back on track! Thank you for your prompt replies to me, your clear information and preparation needed when at the courthouse. I would of course recommend you to others and I am glad you were the one who had my case. Kind genuine law firm who treats you like family. God bless you all and I pray for your continued success in your field of expertise. This firm is Super Lawyers for a reason. They are the best at what they do! Pete
Doug Tinlin
Doug Tinlin
06:55 15 Feb 18
Brad Sadek gave me hope when he decided to handle my mortgage for enclosure defense. I had exactly 10 days left of the 30 days ultimatum given me, but he was able to bargain for an extra 30 days for me to pay up. That duration turned out just right.
Jacinth Jacinth
Jacinth Jacinth
16:07 31 Jan 18
Excellent service. Brad and Matt were outstanding and friendly. They helped me through this. I’ve never met attorneys like these. Thank you!
julie njoku
julie njoku
12:29 24 Jan 18
Brad Sadek is excellent!. He understands and he's fair. You feel like you have someone fighting for you. The staff is friendly, professional, and courteous. These guys are the best at what they do !
Owen Black
Owen Black
20:14 09 Jan 18
Thanks for the great service! I would recommend this firm highly. Throughout the years I have been helped by this firm greatly and very much appreciated.
Steven Rychalsky
Steven Rychalsky
15:30 09 Jan 18
Sadek and Cooper law office was a wonderful experience to work with. Bankruptcy is a difficult experience but they helped with the stress so much and made it easy. I would recommend Sadek and copper too anyone.
Chris Kourelias
Chris Kourelias
19:09 28 Dec 17
Working with both Brad & Matthew was a pleasure. Both gentlemen are extremely knowledgeable and helpful in providing me the right assistance needed to make the correct decision to benefit me in the long run. I would recommend both candidates to anyone looking for assistance with a reputable law firm.
Jennyfer Santana
Jennyfer Santana
21:17 21 Dec 17
Highly Recommended. Matt & Brad assisted with my case. I felt comfortable throughout the entire process. Matt was very understanding, patient, and ensured he answered all my questions! Both great guys and very friendly! It was a pleasure working with Matt and Brad.
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