Bankruptcy on my background

as an employee no
as a possible lease on yes
purchase of a truck yes

 

No. I have one and never precluded me from working. Like the driver above said, will be hard for you to lease, but not working.

 

some companies will do a credit check on us. this is for one of many reasons. (i worked for a gasoline company that REQUIRED a credit check)

like if you do not pay your bills on time, this could mean to the company, you are not dependable

it could also hurt one's ability to buy, more so than lease.

as long as the bankruptcy had been long discharged and one is rebuilding a credit rating, many times a higher down payment IS required, and often times to, a higher interest rate.

as one very good example, look at all the sales ads on tv and the newspapers claiming, "bankruptcy, no problem", "bad credit, no problem", "little or no credit, no problem"

a person that filed bankruptcy and has been very careful of rebuilding credit, that is, NOT taking every new credit card offer, may have a chance at a lease.

purchasing a big rig, very well may take a bigger down payment, until at least the 10 year time period has expired.

 

They can use your FICO score against you. Progressive Insurance Co. fought the NCALU on this and won. Credit scores are indicators that are used in calculating insurances risks. Period. I don't agree with it and it doesn't translate into driving ability or driving skill. It is another factor used in the Rubric or Metrics that actuaries use in determining potential life style decisions a person makes in life. Just as when I was in school many students asked about additional riders and pets. If you think that either of those two do not have an impact on claims you are mistaken. Top notch companies will not allow pets or additional riders because their insurance doesn't permit it and thus they enjoy a better coverage and lower rate than other carriers. If you have excellent credit you will find Progressive Insurance (Standard Coverage) rates very difficult to beat. Progressive built it's empire on (sub-standard) coverage for people with accidents, DUIs, speeding, reckless Operation...AND credit scores. They wrote the book on how to properly calculate premiums and weigh them against claims. Peter Lewis the founding father of Progressive Insurance Co. pioneered the way for other companies like Warren Buffett's GEICO Government Employees Insurance Company. There are very few companies that no longer use credit scores in the rate development. So I am sorry to say yes bankruptcy will hurt you. I know because I had gone through a bankruptcy in 2007. It still follows you even after seven years. They say it doesn't but it does, they're just not allowed to mention it when you apply for credit. Guess what else cannot be claimed when you file for bankruptcy ? TAXES owed to state and federal. Student Loans. The IRS will always get their two pounds of flesh !

 

One thing you may want to check is that if your potential employer is large enough a poor credit score or bankruptcy may not have an effect on the over-all rate the truck company pays for their drivers. That would be a question for their upper level management. The owner(s) of the Trucking Co. would certainly know because they probably hang-out on the links with their insurance agent

 

Also falls towards worrying about theft. They run a credit and background check here. Recent bankruptcy would probably end the process.

 

The day may come when the elitists figure out that their fiat $ ain't gonna buy toilet paper and it sure as hell will not be absorbent enough to take the #### off their ### either I wonder who will tie their shoes and catch their dinner? Hmmm ??