Please list your opinions on this subject i am dealing with.

rwright15 · Oct 25, 2008

I would clean up the mess then..... go to nursing school. I can speak from experience b/c I am nearing the end of Nursing 3. It is hard. Unless you have some money saved, you will struggle, and the stress will wear on you and you will more than likely fail. Our instructors talk about previous students all the time who started in the program, and couldn't afford to quit their job. Essentially they had to choose between working to feed their children or studying for the test. Think Maslow and the working won out. I quit my job at the beginning of the nursing program, and most of my classmates have quit theirs after our second Nursing 3 test in a last ditch effort not to fail out. Bankruptcy is not the worst case scenerio(chapter 13), but I have heard the laws are much stricter on the grounds for filing e.g. you may not qualify or be allowed to file just because you want to go to nursing school. And.... a background check usually does include a credit check.

RedhairedNurse, BSN, RN · Oct 25, 2008

sorry i meant that i have bills totaling 1400 a month, i would never declare bankruptcy over a total debt of 1400.

I seriously think you would regret filing BK. First of all, places do credit checks, they do where I work. Also, car insurance will go up if you have poor credit rating. Basically everything goes up if you have poor credit rating. It will take years and years to get the BK off your credit report. For instance, my husband filed BK and couldn't buy a car for several years later and when he did buy a new car, the finance charge was still like 17%. 15 yrs later, he is just now starting to build is credit back up.

I think the only way I would file BK would be if I couldn't pay my bills and if my credit cards were so maxed out that it would take 20 yrs to pay things off. Thank God, I don't have much debt and never have. :clown:

OregonGal · Oct 25, 2008

My advice, clean up your debt first, then nursing school. Sell things (Craigs list is awesome), sell the car, buy a cheaper car. Car payments are such a waste. Can you live with your parents to be able to put more $$ on paying off the debts?

It's not impossible, just like nursing school. And, you're never too old to go to school, so don't feel pressured because you're 24. Many students are older than you :)

Take care---I'm rooting for you!!! You CAN do it!!!! :yeah:

Altra, BSN, RN · Oct 25, 2008

Never seen a nursing home do a credit check for employment. I seriously doubt hospitals do either.
Background checks are very rare and are usually found in higher paying jobs along with govt jobs.

Do you mean 'background' check?
General background checks don't include credit. Just police.
Credit checks are very expensive. I don't see LTCs doing it. It's not very cost effective. Never even been brought in HR or staffing conferences I go to. Never seen it in TX, IN, MD, VA or DC.

Credit reports are inexpensive - less than $15.

Credit checks as part of the hiring process are very common in all industries and have been for at least a decade. I've had my credit checked for all the jobs I've applied for since the late 80s - both in healthcare and in other fields. And no, I've never had a job for any government agency.

http://moneycentral.msn.com/content/Banking/Yourcreditrating/P87306.asp

" ... About 35% of the companies surveyed by the Society for Human Resource Management pulled the credit reports of current or potential employees last year, up from 19% in 1996. ..."

Financial details are often not the focus of obtaining credit reports on potential new hires - it's an efficient & inexpensive way to verify data the applicant has provided.

" ... Employers are more likely to use credit reports as a way to verify employment history and Social Security numbers, Greenblatt said. Lenders often verify employment when you apply for a loan or credit card, so a credit report is seen as a good way to double check the employers listed on a job-seekers application. ... "

You may simply be unaware that the paragraph of small print at the end of most employment applications contains some language that states that you are authorizing the employer to verify the information you have provided on the application through various means, including "background checks" and checks with consumer credit reporting agencies.

PiPhi2004 · Oct 25, 2008

If you want to succeed and reach your goals, you're going to have to deal with these problems first. As others have said, you can't do it all and you won't be able to make all those payments in school as you wont be able to work and go to class and study. My suggestions, as others have said, is to get rid of the payments and consult financial counseling. Some places do credit checks but that's irrelevant as you won't get through school anyway with this kind of stress. Do you have family members that can help you out? Do you live with your parents for awhile until you get on your feet? The car has gotta go, public transportation and carpools are your friend. I am from a VERY rural area that has no busses or stops but I could always find a friend to carpool if I wanted and many utilized me for carpooling in NSG school. Do you have children or anyone dependent on you? If not this is the perfect time to clean all this mess up and it shouldnt take but a year longer and you will be a lot happier for it!

pagandeva2000, LPN · Oct 25, 2008

I would try to avoid filing bankrupt. For one, you are young, and don't know for sure if you would even LIKE nursing. Even though most of us are at least somewhat satisfied with their career, there are many (and you will see as you continue to read these venting posts), there are many that have sincere regrets of becoming nurses. And, there are many that get into the programs, attend their clinical sites that get so grossed out that they run-never to return. And, then, your credit is screwed up before you have a chance to decide your career choices. I can't tell you what to do; I understand the dilemma. But, look at your bills, see how long it may take to get out of debt, and see if you can survive a bit longer until you actually pay them off and then seek your education.

It is also true that many have made it with the combination of working full time, being single parents of more than one young child and such, but believe me, nursing school is DRAINING. It will require 1000% of your attention. I feel it is better to pay these things off while you are young, single and no children-then complete your education than to battle all of these other commitments. If you can figure out how to cheapen things for yourself, if overtime is available or even get a second gig to get of of debt quicker may be more advantageous. Good luck.

racing-mom4, BSN, RN · Oct 25, 2008

Most of the "credit checks" being done by employers are to verify addresses, now if your talking banking industry that is different, but the hospital most likely wont care if you filled bankruptcy....however.....banks will, and through out school you may find you need to take out a bank school loan, or you may need to use your CC for books.

24 is awfully young to have to file bankruptcy. Try and work something out with your creditors--tell them your a college student and see if they can lower your interest rates~~Its worth a phone call at least. They would rather get paid something than you file bankruptcy on the debt.

I agree with the above post, sell something, cancel cable, get a cheaper cell phone plan. Start shopping at Target and cutting coupons. Put your self on a budget and stick with it. Get a part time job.

I am afraid your going to regret this.

barbyann · Oct 25, 2008

My advice to you is to get financial counseling from a credit/debt advisor. Have someone look over the numbers and advise you. They can renegotiate your terms and make the payments more manageable.

I was in the same boat as you. I went to my state's website and looked at the Attorney General's approved credit/debit advisors list. It was a good move and I was able to work two jobs and pay off my debt. I felt great knowing I had not given up. Just be careful, there are many shady credit/BK "quick fixes" out there. These are ones that charge you a large FEE. My counseling session cost me $35, they called all my debtors and arranged lower APRs (5-6%) and made all the monthly payments for me. I in turn had one monthly payment to be made to them.

Good Luck. BTW, I have excellent credit now.

Straydandelion · Oct 25, 2008

Bankruptcy may make an impact on other parts of your life i.e. getting loans, places to live, buying a car etc. but unless I am missing something I don't see how it would relate to any job offer for nursing though it would with other jobs.

http://wiki.answers.com/Q/Can_bankruptcy_hurt_your_chances_of_finding_another_professional_job

http://career-advice.monster.com/job-search-essentials/Past-Bankruptcy-Can-Haunt-Your-Job-/home.aspx

HonestRN · Oct 25, 2008

I can't imagine they would do a credit check, only because it's not relevant...a criminal background check, yes, but not credit.

I'm sure I will get flamed for this but to some degree debt is relevant. People with high debt do things that they may not do otherwise. Example steal drugs to resale for cash. Not saying the OP would ever do that but using that as an example. That is one of the reasons govt jobs do credit checks and background checks, to see if potential employees have reasons or are susceptible to be corrupted.

Jules A, MSN · Oct 25, 2008

My opinion would be: do the responsible thing. Straighten out your financials, save some money to get you through school if you choose not to work, and start with a clean slate. Good luck this won't be the easiest thing you have ever done but it might be the best. :)

geekgolightly, BSN, RN · Oct 25, 2008

i agree with selling the car and getting a cheaper one. if you have parents who are supportive of the decision to go to nursing school, take anything you can get from them including a roof over your head even if that means a crimp in your style for a few years. school loans can be deferred if you have any of those. you might be able to get a "school loan" from a bank and put your personal loan monies into that and this way it will be deferred until you get out of school. same thing with credit card debt. sort a way to get the lowest interest rate and slam the credit card debt in there nad make minimum payments only.