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> For a just-graduated person with minimal assets it's not that bad It is in fact bad. You can’t just declare bankruptcy and get a high paying job a year late
by iateanapple 6y ago
> For a just-graduated person with minimal assets it's not that bad
It is in fact bad.
You can’t just declare bankruptcy and get a high paying job a year later and have no student debt....
When I looked into personal bankruptcy I was told by my lawyer that it would only make financial sense if there was no way I could pay back the amount owed in the next 7-10 years.
- WalterBright 6y agoHaving a bankruptcy on your record may make it difficult to get that high-paying job, as employers may not look favorably upon it.
- wolfgke 6y ago> Having a bankruptcy on your record may make it difficult to get that high-paying job, as employers may not look favorably upon it. Why? I rather consider this as a sign that the person will be rather loyal as employee because he needs the money ...
- WalterBright 6y agoMaking a deal and then breaking it can dissuade employers from putting a person in a high trust position. Most business operates on trust, handshakes, and one's word. Contracts are a backup. Trust is like glass - easy to break, very hard to put back together.
- ulucs 6y agoDo Americans really check prospective employees' credit scores? Wow.
- jandrese 6y agoYes. It's the first thing HR runs on every new applicant. Bad credit == danger of mismanaging company money.