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| *Ostroff, Fair and Company>>>Financial Services |
If I had a bancruptcy 6-7 years ago can someone block me from being employed due to this? |
I have accepted the job, but now they are running a background check and I gave them this information. It is for a financial institution. I know that if you are going to work for a broker/dealer and are going to be licensed with the NASD, you will have to disclose bankruptcy (for the past 10 years, at least.) The employer may or may not hold this against you. If the NASD denies your registration because of the bankruptcy, the employer may have to let you go. If you are working for an SEC-registered investment advisor (that is not dually registered with the NASD as a broker/dealer), then I do not believe you have to disclosure bankruptcy. However, any company may have an internal policy of disclosing this information so it would be best to be upfront with them like you already have. Hopefully they will not hold this misfortune against you since it happened so long ago. Good luck! Absolutely, there is no discrimination laws for financial incompetence in past or present. On most cases I would say no. It would depend on what chapter bankruptcy you had. I did chapter 7 back in 2001 and even after a few years I was getting credit card offers and job offers weren't having a problem with it. It would also depend on how much it was. If there were any legal problems that happened during your case. I know things have changed recently but I have to think that since you had yours before these changes went into effect that it should not come against you at all. employers can (in essence) deny employment for any reason. while they might not tell you exactly why, they will find something to tell you if they don't want you to work for them. i guess companies are afraid to get sued over nothing, so most won't give you any concrete reason. as for your situation, being that you are working at a financial institution and you were bankrupt, it's not a good sign. but, if you gave them the information, i would just explain why it happened and what you are doing to prevent this from ever happening again. I work for a financial institution as well and unfortunately they do run credit reports. Typically they look into that because if you are running into or have run into financial trouble, working at a bank/financial institution puts you within the reach of money and that employer is at a great risk. Usually the bankruptcy gets discharged after that period of time, so it might not even be an issue. I see more and more employers using credit reports as part of background checks, but depending on what happens after they see it, you might have a case with the EEOC. However, I have worked with people who have poor credit and have been hired. No Regardless, an employer can not tell you you don't get the job if you filed bankruptcy. That is not the type of background check they are looking at. They are concerned with the fact if you have ever been convicted of a crime. Your bankruptcy will be found on your credit report NOT your background check. So not to worry. I work in Financial Services and filed bankruptcy long before I was hired. This was not an issue to ensure employment. |
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