There are some individuals whose line of work requires them to have different levels of security clearances. One of the concerns with going bankrupt is will this affect their security clearance status? This has become even more of a concern now that the new budget bill that was just passed by Congress is indicating that security clearances will have their credit checked more diligently or more often than in the past.
It is being indicated that agencies should be responsible for collecting criminal and financial information that includes civil legal proceedings and credit scores at least twice in a five year period. Because of this some individuals may refrain from going bankrupt because of the worry of what this will do to their clearance status.
It may be beneficial to look at it in another way, that a bankruptcy proceeding that is successful is indicating that the courts realize that an individual has run into financial difficulty for a variety of reasons and are not able to pay their bills.
No matter what the personal circumstances are of an individual that is in financial difficulty it would be well worth it for them to speak about their situation with a qualified Cincinnati bankruptcy attorney. These are professionals who handle bankruptcies for all types of people in different situations. They have the expertise to know whether the bankruptcy is the right step to take as it may be the only financial recourse that is available to help these individuals get back on their financial feet again.