Monday, July 27, 2009

Doubt Lingers

Mr. America is running on the doubtmill. To be honest, I have been too. Part of it is guilt, the other part is the unknown of what the future holds for a couple that has gone bankrupt.

We are well aware of the blemish that will remain on our credit for the next 10 years. After 10 years it is no longer listed on the credit report, but we will be forever responsible for disclosing it in the event we are asked about bankruptcy.

The other unknown that concerns us? Employment.

Research has shown me that some job applications do ask that you disclose bankruptcy information. This is understandable if you're going to be a bank teller or someone that deals closely with money on a daily basis. As far as current employment, it is illegal to fire you because of bankruptcy. Future employment is a little more sketchy.

It seems that if you apply in the private sector, they *may* discriminate based on the bankruptcy. If you apply in the government sector, they are prohibited from discriminating based on the bankruptcy.

Neither of us plan on making job changes anytime soon, so I don't think we really have anything to worry about. Therein lies the issue...

It's the unknown that causes the most uncertainty about this whole bankruptcy decision.

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