Bankruptcy CERTAINLY WILL hurt your job application, as well as other reputations, if you file for bankruptcy at $25K, it shows that you’re irresponsible in spending and unwilling to pay back $25-50K (after fees, interest, long term).

In contrast, do what you can do pay it back, your credit will come back and your life will be back together too.

i have filed bankruptcy. it was the best thing i could do at the time. i have a excellent job, i dont see that stoping you from a excellent job or anything for that matter.

To answer your additional question, filing bankruptcy can affect your getting hired for another job. Just depends on how thorough the company doing the hiring is. I know that I went thru a credit check, background check (they looked for criminal events and verified college degree) and drug screening for the job I took. But it was for a Fortune 500 company. Smaller companies or companies that hire quite a few workers might not be as thorough.

I hear Bank background checks are even more thorough.

Go to this site: They are Consumer Credit Counseling Service (CCCS), a legit non-profit company. They offer free credit counseling and have a debt management program available, if you qualify, for no fee.

They can look at all you debts and advise you how to proceed.

If you have $25K in credit card debt, you didn’t run that up in just the past couple months. You have a real problem living beyond your means. If you had managed your finances better, losing your job would not have place you on the verge of bankruptcy in two small months.

Well it could be an option but there will be a charge of £485 - £150 court fee and £335 ORs deposit.
maybe you should consider different methods such as an IVA or a composition order with creditors??
Most people that do go bankrupt have debts of £12000 or more but you must take into account if you own your house or a car you will lose it. any questions let me know,

Hi,
I used “Credit Solution” to settle my debt and avoid bankruptcy. They managed to reduce my debt up to 58%.It’s legitimate.I came accross this company on NBC News Special Edition.Check it out here:

Bankruptcy should be used only as a last resort, as the ramifications last well beyond 7 years (10 years on file with on credit reports.) The best solution when you’re behind on your debts is to keep in communication with your creditors. If you are determined you know that eventually you will find employment again and you will be able to start paying back your creditors. Many times it takes several calls to your creditors to work out a favorable solution, so don’t give up after the first call to customer service or collections dept. say’s No, speak with a supervisor, someone who has authority to work out a favorable solution towards a payment plot. Remember, as long as you make a payment even below your minimum amount due they will continue to work with you. Repairing your credit after going late or even to collection status is far simpler to repair than explaining why you file bankruptcy to lender say 4 to 5 years down the road when you’re ready to make a buy say on a home or a new car. Typically late payments, paid collections or settled accounts 12-24months down the road won’t affect your credit score as much as having a bankruptcy that is 3 years ancient. Keep also in mind that it’s much harder to re-establish credit after a bankruptcy with out a secured credit card starting out because your credit history shows that when things got rough for 60-90 days, etc. you gave up and basically told everyone that you owed money to pound sand. But, by paying on your creditors even when things got rough, even once every other month until you started working again and could start making regular payments on time will show that you take your obligations seriously. I speak from personal experience here and also having spent 15 years + in finance. Tough it out, because once you hit bottom there is no where to go but UP! Hang in there and keep looking for work you’ll find it. In the mean time also look at filing for unemployment benefits, it may not be a lot of money but at least it’s something. Excellent Luck on your job search.

Hi,

I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It’s legitimate.I came across this company on NBC News.Check it out here:

First of all, contrary to what someone posted above, you CAN get rid of all of your debt. Chapter Seven. I filed it so I know for a fact you don’t have to pay it off, that’s only Chapter Thirteen that requires you to pay some back monthly.

Secondly, they can’t take your house unless it’s your house you haven’t paid on. If it’s some other debt what they can do is come into your house and take things to hold sheriff’s sale. But here’s the issue with that, since you are married the items are considered split and there’s no proof who they belong to so as long as things like your car have both of your names on it they cannot take it. I had this all clarified to me when I saw my lawyer.

The only thing going on with the new bankruptcy law is that you have to go to counseling by a credit counselor and then take a class before your lawyer can really start the process for your bankruptcy.

NO - don’t file bankruptcy.

check out for a plot to get out of this mess. In the mean time go work delivering pizzas at night while you are looking for a job during the day!