How will filing bankruptcy affect future adoption application?

Question

Hubby is about to file bankruptcy, we are considering adoption in the future. If we start the process next year will be declined due to filing Chapter 13? We have a 3 bedroom home (which we will be keeping) and no children. I have had my job for a year now and hubby has been at his for 2 and a half years now, if that matters. Also, we are wanting to adopt a child that is in the system

Answer 1

Hi!

I declared bankruptcy (Chapter 7-complete discharge) in 2001 and we adopted from Russia in 2006.  Our adoption agency, as well as the agency that did our homestudy, stated that it wasn't the most optimum situation, but enough time had elapsed since the declaration and our adoption, in addition to the fact that I had NO DEBT when we applied.  I had no credit cards, no outstanding loans (except our mortgage), NOTHING!  They said that I was showing financial responsibility and that it would look good in the homestudy.

You may have to wait a few years before you adopt before you can apply.  You stated that you want to adopt from within the system.  My advice would be to call your state's adoption agency and inquire as to what they perceive as a good amount of time between filing for bankruptcy and attempting to adopt.

Good Luck to you!!

Answer 2

I think if all keeps going in the right direction, you should be o.k. with many agencies, but not all.  Some may look at this as being irresponsible or immature. Some may have a flat policy against approving families who have either filed bankruptcy at all, or within a certain time frame.  Call and ask!

Just keep the jobs stable, conserve the spending, afford what you have, and save!  Show you can afford to raise a child well, and that you are responsible.  Pay your bills on time, and strengthen your credit rating.

Good luck!

Answer 3

Every agency has different guidelines, I adopted and applied with many different agencies.  All the ones I applied with did credit checks, I truly believe it will greatly effect your chances, but I am not positive.  If you truly want to adopt you may want to reconsider filing.

Answer 4

Filing bankruptcy will affect everything in your future, including adoption. It's one of the worst choices ever, believe me. Bankruptcy that is.

Best of luck.

Answer 5

They will want to know you are financially responsible (a large portion of our homestudy was devoted to financial stability), so a recent bankruptcy will need to be explained and may or may not hurt your being approved, depending on that explanation.