Are there certain jobs that will not hire a person based on a previous bankruptcy?

Question

I'm thinking about filing bankruptcy because my debt to income ratio is ridiculous and I'm ready to be financially free again. I am a single mother, and I have my Bachelor's degree but I'm having a hard time finding a good job. I need to find a job paying a certain amount or otherwise it would be a waste of time for me to take my daughter to daycare and work all day for nothing. Anyhow, I recently applied to a couple of jobs that I feel I have a good chance at getting, but even if I do get chosen for one of the jobs, it will still take me at least two years to pay off my debt (school loans included) and I don't know if it's better for me to file bankruptcy now or if I should attempt to pay off my debt which could take forever. I'm concerned that after everything is said and done, that if I do file bankruptcy I wont be able to get certain jobs (Federal and non-federal) that I was hoping to secure? Any help? Thank you.

Answer 1

Bankruptcy will take you out of the running for any job where you need to be bonded and jeopardize other positions of trust.

If you can pay off your debts in two years, you definitely ought to go that way.  The student loans probably don't have to be paid off that fast.

Remember if your student loans are government insured, they may not be dischargeable in bankruptcy anyway.

Answer 2

If getting one of the jobs will allow you to be debt free in 2 years, you are NOT bankrupt.  Most US families would consider your position an improvement. As the first answer stated, there are many jobs which a recent bankruptcy would prevent you from holding.

You really need a PLAN more than you need debt relief.  I recommend the book "Total Money Makeover' by Dave Ramsey.   It should be available at most libraries.  You can probably find a local radio station that broadcasts his program.  If you call him, he my even give you a copy of the book along with some advice.