A reader writes:
I have a similar question as the young lady from 2/1/08, but mine has more twists. I too am considering filing for bankruptcy. I'm considering filing because I have accumulated about 30k in credit card debt due to job loss and due to a 50% decrease in pay. I have now obtained employment, however I am still earning considerably less than I have in the past. I've scaled back in all aspects of my life, but I still think this is going to be the best option for me. I should also let it be known that I am NOT late on anything. In fact I have a 700 credit score!
Now for the question: I work for a bank as a Banker. I'm considering filing bankruptcy on the credit card that I have with my employer. I need to know if I should speak to someone in HR or the credit card department about this. I had this account long before I started working for the company, however the payments are out of control. Additionally, could my employment be affected as well? I don't directly deal with money, however I do work in a banking branch.
I know this is a rather complex one situation, so I appreciate your assistance. Thanks!
Disclaimer: I am not very familiar with bankruptcy laws or rights.
Your rights as a consumer and your responsibilities as an employee are separate and distinct but in your situation, could both come back to you in your workplace. Because bankruptcy laws can be confusing, I recommend you speak with the credit card department. Because you are not handling money, I would not expect a bankruptcy to impact your employment. Because employment guidelines vary from company to company, I encourage you to talk with your HR representative.
Having said that, I see someone who has faced a number of unfortunate circumstances; finds herself in a tough financial situation; and is taking positive, responsible steps to get it all under control. I am afraid I don't have too much else to offer. Readers, anything to fill in the blanks?
Best of luck to you. You are definitely on the right road!