It’s never easy to realize that you have more debt than you can pay back. But for some people, what’s even more upsetting is wondering, “Will filing for bankruptcy affect my job?”
- In most cases, bankruptcy will have little to no impact on your job.
- Your employer may become aware of your bankruptcy under certain circumstances.
- Filing for bankruptcy can potentially impact your employment if you have a security clearance.
What Are the Chances That Filing for Bankruptcy Will Impact My Job?
For most people, filing for bankruptcy will have virtually no impact on their current job. However, certain individuals working under specific circumstances might see a minor impact on their current employment.
To be able to make the most informed decision possible, you need to have a firm understanding of all potential impacts that filing for bankruptcy may have on your life—both positive and negative. So while most people find that pursuing bankruptcy is a smart option for financial security, others may need to weigh possible job-related concerns.