Can you lose your job because of BK13?

[rjl0206]

To all,

Can you or your spouse lose your job by filing for BK13? I have read that may affect you if you work in finance etc. But what if you work for a finance/banking company but not in any financial capacity? IE: Medical component for company with no decisive or authoritative capacity for monetary policy or decisions. Thanks all

[justbroke]

I have never read about anyone losing their job solely because they filed bankruptcy. Now, if you hold a particular security clearance or have a financial services license, it could contribute to you losing your job. Still, I haven't heard of anyone losing their job for these reasons. Typically the only people that may be exposed are those in the financial industry with a fiduciary responsibility, and those holding governmental security clearances.

Even then, the government won't fire someone "solely" because they filed bankruptcy. For security clearance holders that has to be a pattern or disregard for financial responsibility. So long as you have a good reason why you filed, you would be fine. I had a 5-year review on my security clearance when I was 1 year from discharge in my Chapter 13. Let me tell you they knew everything down to each creditor. The reviewer interviewed me and I explained things and he said he thought my renewal would go normal. It did. Others have not been so lucky when it's a pattern of abuse (e.g. filing Chapter 7, getting the discharge, then immediately being back in trouble.)

Good luck to you. I don't think it's an issue... especially where it's a Chapter 13. A Chapter 13 is a reorganization of debt and the debtor does try to pay back the creditors. This is seen more positively than a straight Chapter 7 although the impact of the Chapter 7 could be minimal based on the reasons for filing.

[rjl0206]

Thank you, this question was for my spouse. She is an in house medical personnel for a financial company. Appreciate the response.

[shipo]

Thank you, this question was for my spouse. She is an in house medical personnel for a financial company. Appreciate the response.

I was a Senior Analyst for a financial services company (large enough to have their name and logo plastered all over an NFL stadium) when I filed Chapter 13, nobody said a word.

[rjl0206]

Thank you for this.