your credit and being bonded?

Discussion in 'Credit Talk' started by marci, Jul 27, 2002.

  1. marci

    marci Well-Known Member

    Hi all,

    I don't want to get into another "p" discussion here, but something in another thread caught my attention, particulary since my question wasn't answered there.

    What are the credit requirements for one to get and keep his or her bonding with an employer?

    Is it true that BK causes people to lose their bonding?

    Thanks in advance,
  2. breeze

    breeze Well-Known Member

    In 1990, when I had to file, I was working for an insurance company. I told my boss what was going on, everything was handled from his end, but my bond was not revoked, and my employment was not terminated.

    I have applied for bonding many times since then, and on every application, I have to answer that question, provide proof of discharge, and a statement. I have never been refused bond.

    The issue is whether or not you are an honest person, so I suppose bk in combination with some other things that indicated lack of integrity/honesty probably could get bond revoked - it would depend on the circumstances.

    Also, perhaps since the bond is actually provided by an insurance company, if you are working for a company that has had issues and has had difficulty obtaining this, the company might be skittish about hiring/keeping someone with anything on their record.
  3. marci

    marci Well-Known Member

    Thanks Breeze! This explains it for me...
  4. MandyB

    MandyB Well-Known Member

    I guess my question is "Do you need to be bonded to work for a collection agency?"
  5. breeze

    breeze Well-Known Member

    Probably depends on a lot of other things. Generally speaking, I would say "no" or, if so, it isn't a very big bond.

    Most people who work for collection agencies (I am not sayihng ALL of them) do not make much money. I know some - Household has a big CA location in VA Beach - they tend to go from CA jobs to telemarketing jobs to customer service jobs. All in all, high school education, lower incomes, with credit/collection problems of their own. And some of them even discuss the problems with me, LOL, so this is first hand information.

    Again, I am not putting the individuals down - some of them are friends of mine, and they are nice people, they just have lousy jobs and troubles of their own. And then many are college students trying to get by, or military wives who cannot have a real career because of the moving around, some are disabled and must take non-physical jobs while they get back up and going.

  6. JohnM

    JohnM Well-Known Member

    I have a friend that has a felony DUI and she can not go back into collections because of the bonding issue.

    We have talked about the things she did to collect and she admits they violated the law on a regular basis. I know more about the laws then she did after working for 2 years, she argues with me about a lot of the stuff I told her was illegal.

    She is a high school drop out, w/ poor work habits and a very low sense of ethics. No wonder she made good money in collections.


    OK...I admit it...I slept with her...I was not thinking with my CreditNet brain....
    <I hang my head in shame>
  7. breeze

    breeze Well-Known Member

    LOL, John, you can be the mole (see the other thread), hahahahaha!!!!!
  8. KK

    KK Well-Known Member

    I am not sure of what is being referenced from the other thread but I never had any problems or issues with my credit (BK) and getting jobs. I have worked for banks and securirties firms and there were no issues.

  9. too_poor

    too_poor Well-Known Member

    The place i worked when i met my husband required bonding and it was my understanding that bonding was like getting a mortgage or job where credit history is checked - easiest with good credit history, and bankruptcy was better than hiding unpaid debts, on the theory that it meant you took responsiblity for your actions but didn't when you hid from your creditors.
  10. breeze

    breeze Well-Known Member

    The other thread is wajaba's post here about someone becoming a mole. I was talking to John, because of his "confession", and it was a joke anyway.

  11. KK

    KK Well-Known Member

    Thanks Breeze

    I agree with too_poor. When I worked in securities operations for Bank of America, debt loads that were greater than ones ability to pay were serious red flags to them. Bankruptcy was a clean slate therefore it was assumed that there was a little less likelihood of embezzelement.

  12. keepmine

    keepmine Well-Known Member


    I've worked with 2 stockbrokers who filed bk and there were no bonding problems.

    I almost posted to Pulse that a career paying $7/hour would not be much of a loss if a bk filing caused her to lose the job.
  13. breeze

    breeze Well-Known Member

    Seriously! But it was all BS anyway.

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