Posted on: 19th Aug, 2011 11:41 am
I've been told that if I file for bankruptcy, it can work against me when I try to find a job. I owe approximately 25,000 including 3,000 to Revenue Canada. Since I've lost my job there is no way that I will be able to get myself out of this debt. Bankruptcy seems like my only option. Isn't it against the privacy act to make it be known to present employers about my bankruptcy? Just because someone files for bankruptcy doesn't mean that people like myself cannot be trusted. I truly believe that no one should be aloud to get this information. I know someone who has been criminally charged and has been able to find employment and someone like me declares bankruptcy and may never be able to get employment because of it. Does this make sense or what? Is there anything that I can do to prevent my personal information from being revealed?
welcome flowers,
it is true that it is against your privacy to make the bankruptcy known to your employers. however, before giving you a job, many a times, the employer may check your credit report where the bankruptcy will be mentioned and thus, it will become known to them. however, if you could explain your reasons for filing bankruptcy fully, then you may not face any problems in getting a job.
it is true that it is against your privacy to make the bankruptcy known to your employers. however, before giving you a job, many a times, the employer may check your credit report where the bankruptcy will be mentioned and thus, it will become known to them. however, if you could explain your reasons for filing bankruptcy fully, then you may not face any problems in getting a job.
Bankruptcy is public record. The Privacy Act has nothing to do with financial affairs such as this. Employers are ever more vigilant in considering who they hire. If you are seeking employment in banking, for example, it would be most beneficial for an employer to know that your finances are not in the shape they'd like to see. At least that's how the firms will view it.
As for trustworthiness...being a bankrupt does not make you unworthy of trust. To evoke your friend with his criminal record isn't quite workable, either.
As for trustworthiness...being a bankrupt does not make you unworthy of trust. To evoke your friend with his criminal record isn't quite workable, either.
Afraid you are stuck, my friend. However, if you have a good panymet record with your mortgage lender, I would contact them and ask if they are offering rate modification programs for their good customers.If they do, they will lower your rate (not quite as low as current market, but close and probably better than what you have), leave the maturity date where it is, and only charge a 300-500 fee for the whole thing. A lot cheaper than refinancing, no pesky appraisal to deal with, no cash to fix the LTV, etc.