I am trying to obtain employment in the banking industry again and wonder if a past bankruptcy will affect my being considered for this. Am I still bondable?
My bankruptcy was finalized over 7 years ago. Does this make a difference? It has now been cleared from my credit history, do I still need to declare past bankruptcy if it no longer shows on my credit report?
At December 19, 2008 |
4:09 pm
, Barton Goth, Trustee in Bankruptcy Said...
After a bankruptcy you may find it more difficult to obtain employment with a bank, but it really reflects internal policy not whether or not you are bondable.
When employees are bonded, their employer normally gives a list of employees to the bonding company and also must show the bonding company what kind of controls the employer has in place to prevent theft. Some of this may realte to the employee’s history and whether the employee is a bonding risk. As a result your employer may ask a variety of questions, often including whether or not you are or have been in bankrupt. If you have been, they will usually want to know what caused your bankruptcy and then they will judge whether or not you are a risk by examining the causes of your bankruptcy.
If your job requires you to be licensed, or if you’re providing financial advice, acting as an accountant or controller, etc., your financial history is looked at with more scrutiny and you may have to meet a higher standard to be bonded in those positions. The fact that you’re now discharged does help you a bit – it shows the employer and the bonding company that your financial difficulties are now behind you.
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