Lasting effects of BK

[bw]

One thing I haven't seen discussed is the lasting effects of a BK. We've pretty well covered the credit reporting, job discrimination, etc. But, will this affect other things down the line?

For example, I know of one person who applied for an insurance broker's license. On the application form, it asked if he had ever filed for BK. He answered "yes" and was denied a license (though well qualified).

So, what other kinds of obscure effects exist--licensing, jobs, adoptions, etc.? Has anybody suffered any loss or discrimination because of filing for BK?

Thanks!

[ghacorp]

Absolutely YES! People are discriminated against all of the time for having filed BK in the past. Employers may legally not hire or promote because of it, however they cannot LEGALLY in most cases fire because of it. Take into careful consideration that BK is a legal remedy for a serious debt problem and it usually always is better than a boatload of unpaid bills. Chapter 13 filings are viewed more favorably as this is a structured repayment plan to the best of one's ability under court protection.

Professional licensure should not be affected after a certain period of time, therefore I would question the insurance department on this issue.

[humdinger]

I've asked myself many times; if I had it to do over again would I do it. The answer has always come back a resounding yes. I had no alternative, and my life would be worse now had I not filed BK.