For instance, filing bankruptcy can influence the status of your security clearance if you don't inform
your employer about your bankruptcy and why you've filed for bankruptcy, and can also limit future job opportunities depending on the field of work you are in.
Not exact matches
Will my friends, family, or
employer know
about my
bankruptcy?
You are not required to disclose information
about your
bankruptcy to any
employer, and it can not be used by
employers to discriminate against you.
If your credit check comes back indicating you have declared
bankruptcy, it may lead the
employer to think twice
about whether you are the type of person they want working for them.
In the same light, an
employer who is seeking a professional with certain skills might use the information from a credit report
about a
bankruptcy to determine you do not have the skills necessary for the job.
Most credit bureaus gather and sell information
about you — such as if you pay your bills on time or have filed
bankruptcy — to creditors,
employers, landlords, and other businesses.
Many
employers now ask
about bankruptcy on application forms.
Since new
employers often ask to do a credit check as part of the hiring process, Cynthia was worried
about what they might think if a
bankruptcy appeared on her credit report.
In my opinion, if an
employer is worried
about your debt and how that might affect your job performance (or possibly your willingness to steal), the fact that you filed
bankruptcy helps or completely clears up the situation to be worried
about in the first place.
If you have foreclosures or
bankruptcies in your past, you might find potential
employers less than enthusiastic
about your resume.
If the
employer is bankrupt, the
bankruptcy trustee is responsible for ensuring all creditors, including employees, receive information
about the money owed to them.
The Wage Earner Protection Program (WEPP) under the
Bankruptcy and Insolvency Act provides guaranteed and timely payment of unpaid wages, vacation pay (on or after July 7, 2008), as well as unpaid severance and termination pay to eligible workers (on or after January 27, 2009) whose
employers go bankrupt or are in receivership, up to an amount equalling four weeks maximum insurable earnings under the Employment Insurance (EI) Act (currently
about $ 3,000).