Bankruptcy and Your Career
Consumers who are facing financial difficulty and considering filing for bankruptcy are often concerned how the process will affect their career. While there is legislation in place preventing employers from discriminating against individuals who have filed personal bankruptcy, public and private employers are held to different standards. Regardless of whether you work for the government or a private employer, federal law prohibits employers from firing an employee solely because they have decided to seek bankruptcy protection. However, filing for bankruptcy can impact your ability to get a job if you’re currently on the hunt for new employment. Section 525 of the U.S. Bankruptcy Code does not allow governmental employers to deny employment based on a bankruptcy filing, but does not expressly preclude private employers from doing so. Recent case law has held that private employers may consider bankruptcy as a reason for denying employment to a job seeker.
Planning for Retirement: What Women Should Consider
Retirement is a luxury that requires some planning, and yet, only one-third of women think they are well prepared for retirement — and often they are not as well prepared as men. Let’s examine some of the reasons why women fail to prepare for retirement and look at what you can do to get ready…Read more
Wage Garnishment Must Stop After a Bankruptcy Case is Filed; You Might Even be Able to Get Money Back
Bankruptcy Stops Wage Garnishment The minute a bankruptcy cases filed, an injunction called the automatic stay is issued, which prohibits creditors from trying to collect on debts that were included in the bankruptcy. The Ninth Circuit Court of Appeals has called the automatic stay “one of the most important protections in bankruptcy law.” The automatic…Read more
I’ve Found A New Job, Will I Still Be Able To File For Bankruptcy?
Does a regular paycheck disqualify a consumer from filing for chapter 7 bankruptcy? If you’ve been researching your bankruptcy options, you’ve likely heard of the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BAPCPA in 2005. Under that…Read more
Can I Be Denied a Job Because of Bankruptcy? It May Depend on Your Employer
Last updated Feb. 28, 2018. If you have a job, need to file bankruptcy, and are worried about getting fired because of it, you probably shouldn’t be. The U.S. Bankruptcy Code prevents employers from firing you just because you have filed for bankruptcy. However, if you are a job seeker, need to file bankruptcy, and…Read more
How Can I Tell if My Student Loan Debt is Dischargeable in Bankruptcy?
Last updated Oct. 27, 2017. The topic of student loan debt and bankruptcy: most every bankruptcy and personal finance-related website out there has written about it on numerous occasions. However, the rules are worth repeating because it is still an unreasonable area of the law that was created to address the concerns of a different…Read more
Want To Get Out Of Debt? Treat Your Life Like A Business
The Business World Has Important Lessons To Offer Consumers Trying To Get Out Of Debt Everywhere you turn, whether it’s TV, radio or the internet, consumers are inundated with “get out of debt fast” scams. Unfortunately, most families end up learning the hard way that if it sounds to good to be true it probably…Read more