How should I explain a bankruptcy to a potential employer?

Question

I interviewed for a job as an Operation Manager (which would involve budgeting) and they are doing a background check that includes credit rating. I am in the middle of filing for bankruptcy.

I lost one job at the end of 2006 and what unemployed for 6 months. That burnt up all our savings and the job I did take didn't pay enough to really save again. 8 months after taking that job, I was let go because someone under my supervision made a mistake and I took the hit from the corporate offices. That along with major medical expenses from my wife needing an emergency operation made this the best option for us. How do I address this if it comes up on a second interview?

Answer 1

emphasize the surgery during a time when you didn't have health insurance.  emphasize the medical aspect.  describe how you determined bankruptcy was the best option (from a financial management point of view)

oh and take responsiblity.  saying it's not your fault or you are some kind of victim - say what you would do differently next time to avoid bankruptcy-say that you made mistakes and you now know what they are (ie you could have cut your expenses some other ways).  if you act like it's not your fault, i wouldn't hire you.  

Answer 2

Do not say someone else made a mistake.  Do not tell them major medical expenses.  Tell them several patches of unemployment and an emergency operation.  

Answer 3

"Life happened.  I fought hard for a long time but when push comes to shove it was a decision that we had to make."  (Your wife's surgery was what put it over the edge.)   You don't need to go into much detail.  All they need to know is it has allowed you to move forward in a more focused manner.

Answer 4

from what i heard, some comps won't hire ppl who'd previously filed bankruptsy. as unfortunate as this sounds, it happens. i really don't think they'd b as hard if it happened 2 them.

Answer 5

what is wrong with the truth

Answer 6

and the truth shall set you free.

prepare a statement regarding the events leading up to and what took place.