Bankruptcy Experts

A lot of people have been wondering what their fate is as regards getting a job in the field of finance after filing for bankruptcy. Some ask if there is any law protecting them from discrimination that may emanate from employers or potential employers. In case you are wondering what it means to go bankrupt, read this when am I bankrupt?

The simple answer to this question is YES, there are laws in place to protect the rights of those that have filed for bankruptcy in the past or are about to file for bankruptcy. In case you are asking; why would the government bother themselves protecting bankrupt people? Well, it may interest you to know that over 40% of those that file for bankruptcy are not that reckless with their financial lives. Some are forced to go bankrupt by sickness, others by the prevailing economic meltdown, others yet by divorce, etc.

Some of the laws that protect the interest of bankrupt people are; Bankruptcy Act itself and Fair Credit Reporting Act are the two most prominent laws made in this regard. These two laws made it illegal for any company to disqualify you on the grounds that you have been declared bankrupt in the past. Because of the provision of these laws, a lot of people have devised a means of disqualifying people that have bankruptcy in their records, especially when the position in question has to do with Accounting and finance.

Below are two things that you can do before hand in order to put yourself in a positive light with your prospective employer if you have gone bankrupt in the past.

Portray honesty; it is the provision of the law that no one has the right to access your credit report without your consent. For this reason, potential employers may see you as being honest if you willingly give your consent to them to inspect your credit report. Bring it to their notice that you once had bad credit report and subsequently went bankrupt, and give reasons for this. REMEMBER NOT TO LIE HERE. Be as honest as you can.

Show case your positive sides; briefly tell the prospective employer the lessons you have learnt throughout the period of bad credit and how it will help the company avoid making the same mistake. After all, you are being hired for your experience. You can tell them that the lessons leant from your bitter experience with bankruptcy made you become a better personal financial manager and that this will translate smoothly into helping the company make wiser and more economically sensible investment decision.

To your success in your job search!