Bankruptcy vs job lose – which one is correct?

[SHILOH]

from Wikipedia:
Foreclosures on Credit Records
The legal action of foreclosure may show on a consumer credit report for 7 years from the date of entry (filing).

Here is more detail and input from others:

Seven years from the date it is entered into public records.

The Fair Credit Reporting Act allows the legal action of foreclosure to remain for 7 years from the date of filing.

7 years + 180 days from date of first delinquency.

It will take up to 7 1/2 years to clear a foreclosure from your record

IF you already have a job, you will not lose your job only because you foreclosed on your home.

However, a foreclosure could affect you if you go looking for a new job, or if you lose your current job and need to find a new one. That depends on what kind of job you are applying for. Most employers care more about your work ethics and work habits which they get from speaking to a former employer, not from looking at your credit report.

[beanmaestro]

I imagine foreclosure could cost him the job he has, if he were in a field with serious background checks and security issues. A downgrade in security status, clearance, etc, could prevent him from doing his job… but if he’s in a field with this sort of issue (defense industry, maybe security or banking), I imagine he’s well aware of it.

[beanmaestro]

I imagine foreclosure could cost him the job he has, if he were in a field with serious background checks and security issues. A downgrade in security status, clearance, etc, could prevent him from doing his job… but if he’s in a field with this sort of issue (defense industry, maybe security or banking), I imagine he’s well aware of it.

[beanmaestro]

I imagine foreclosure could cost him the job he has, if he were in a field with serious background checks and security issues. A downgrade in security status, clearance, etc, could prevent him from doing his job… but if he’s in a field with this sort of issue (defense industry, maybe security or banking), I imagine he’s well aware of it.

[lindismith]

piggington readership is growing…

Not only will your friend have this on his credit for 7 years, but he’ll be hit with the taxes too:

http://calculatedrisk.blogspot.com/2007/08/after-foreclosure-big-tax-bill.html

There is no easy out from a big commitment such as a home purchase.

[lindismith]

piggington readership is growing…

Not only will your friend have this on his credit for 7 years, but he’ll be hit with the taxes too:

http://calculatedrisk.blogspot.com/2007/08/after-foreclosure-big-tax-bill.html

There is no easy out from a big commitment such as a home purchase.

[lindismith]

piggington readership is growing…

Not only will your friend have this on his credit for 7 years, but he’ll be hit with the taxes too:

http://calculatedrisk.blogspot.com/2007/08/after-foreclosure-big-tax-bill.html

There is no easy out from a big commitment such as a home purchase.

[Critter]

Some employers run background checks on a yearly or bi-yearly basis for their current employees – so it’s not longer “good enough” if you pass the entry one on the way in.

Neither home ownership nor bankruptcy should be taken lightly IMHO – along with job security.

[Critter]

Some employers run background checks on a yearly or bi-yearly basis for their current employees – so it’s not longer “good enough” if you pass the entry one on the way in.

Neither home ownership nor bankruptcy should be taken lightly IMHO – along with job security.

[Critter]

Some employers run background checks on a yearly or bi-yearly basis for their current employees – so it’s not longer “good enough” if you pass the entry one on the way in.

Neither home ownership nor bankruptcy should be taken lightly IMHO – along with job security.

[Author]

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