What effect will a five year old bankruptcy have on getting bonded that requires a credit check?
It all depends on the employer, usually after seven years a bankruptcy is clear from your record, even though someone has a bankruptcy in their record they can try to get credit to begin to improve their credit.
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.
Yes. You are not really getting credit-it draws from your balance like an atm.
It does not affect them.
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
Yes, if you use it properly. Just getting one and doing nothing doesn't really help.
It is illegal for an employer to discriminate based on bankruptcy (United States Bankruptcy Code, 11 U.S.C. §525(b) ), however, this code does not provide for specific remedies to such a claim.
No. Such a law would violate bankruptcy law, which prohibits discrimination by reason of bankruptcy. The problem is usually getting a mortgage because of credit scores, which include many factors including the reasons for filing bankruptcy.
will bankruptcy increase you credit score over time
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
the only way bankruptcy can hurt you if that job check your credit. if i was you i won't bring it up unless your asked.