Bankruptcy Employment

One candidate for Arkansas state treasurer has an unenviable credit history. I’m Amy E. Feldman.

The personal finances of an Arkansas candidate for state treasurer are at issue because the candidate filed for personal bankruptcy. Twice. His opponent says declaring bankruptcy once is understandable, twice suggests he shouldn’t control the state’s finances. The candidate, and others in difficult financial positions need to know how bankruptcy affects employment prospects. 

Under the law, you can’t be fired for filing bankruptcy, but it could make it harder to get a new job. Private employers are allowed to consider credit history when making decisions. While companies need your permission to run a credit check, they can refuse to hire you if you don’t give your permission. So if you know your credit history is problematic, you might want to tell a potential job upfront about the issues and have recommendations ready to counteract their concerns when they’re voting on your candidacy.

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