Post-BK Life

[HopelessInWA]

We have decided to file BK, but now all of the worries are creeping in. Right now, it's the worry that should my spouse or I need to look for a new job, our potential employer will check out credit and not hire us, or that our car insurance is going to skyrocket due to a credit check.

Do either of these fears have any basis to them?

[JRScott]

My insurance did not change any upon filing.

Depending what type of job it is then yes they could run a credit report and decline to hire you. They'll just cite that someone else was better qualified. This is more likely to happen in financial, real estate or other jobs where you will handle large sums of money but just because you have a bankruptcy does not mean you'll be denied because of it. Honesty is the best policy, if they say there will be a credit check be open and honest about the bankruptcy and reason.

[Flamingo]

We have decided to file BK, but now all of the worries are creeping in. Right now, it's the worry that should my spouse or I need to look for a new job, our potential employer will check out credit and not hire us, or that our car insurance is going to skyrocket due to a credit check.

Do either of these fears have any basis to them?

Yes, both do. There have been numerous postings in this forum on both subjects - have you done a search yet on either subject? Briefly, a BK on your credit reports can keep you from obtaining jobs in certain job sectors (i.e., financial, banking, any job where you would have eto be bonded or work with personal/business accounts, handle cash, etc.). Most employers now do credit and background checks on employees so if you are concerned about your BK on your reports and sign an application where you agree to a credit check (read that fine print on the job application), be upfront at your interview about it. As to car insurance, if your state allows insurance credit profiling, your rates will probably rise when they check your credit to renew your policy. If your state does not allow insurance credit profiling and your rates go up and you think it is due to BK or bad credit on your reports, call your state Department of Insurance and notify them.

[HopelessInWA]

Sorry, I work three jobs and am also home with three kids -- I haven't had time to do very thorough forum searching. I appreciate your response.