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justin520
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depends on the situation.
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aaudetat
As a former credit counselor, I can tell you that some positions are almost quite possibly out for you now, particularly in finance. I know you're a different person, and I totally relate to how much it sucks to have something from a different life pose a threat to your future. So here's what I'd do:

1. Make sure your credit is PRISTINE. You can achieve fabulously high scores post-br; it just takes a little time and good credit management. Check this out for a quick and dirty on good credit management: 108-t43370. (And please forgive me for being a bit flippant about br in this post; I really do know how painful that situation is.)

2. Find out the details on how long BRs stay on the report. They stay on there longer post-br in certain situations, depending on the situation. I don't remember exactly what the scoop is, though.

3. Work your network. Get your buddy in finance to talk to HR. Policies will certainly vary depending on the company. You can get an idea if you do a little research.

Let me know if you have other questions - I may be able to help.

Thanks for the reply. I've heard different things from different sources. One place says that if you are running a credit check for a job with a salary over $20,000, the BR will show up now matter how old it is. Another place says that after the BR is discharged (10 years) it totally disappears and won't show up on any credit check. Another place says that most companies that do credit checks only check the past 7 years, so if the BR is older than that it won't matter.

I don't know what to believe...Anyone here have any first hand experience with this? Will there be a glass ceiling if I go into Finance, or will employers take into account the BR is very old and teenagers can be retarded sometimes?
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You know, I can't speak to this directly as I don't know anyone who has had this experience, but here's what I suggest based on past experiences:

1. I think your absolute best course of action is to reach out to the career services people, tell them exactly what happened, be completely honest upfront and clear about it. Ask for frank, honest and clear advice. If anyone has dealt with this, they have. I'd reach out to them now, not when you get there. There may still be things you can do to mitigate.

2. Although it did not happen to me, I have worked for firms that on the first day they say they will be getting you a corporate amex card and if you believe that you wont qualify for it, go talk to HR. My old boss later admitted to me that she was one of those people. I got the impression it wasn't a big deal. Granted, bad credit is not the same as a bankruptcy, and this wasn't an investment mgmt firm, but hey, its a ray of hope right?
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Just to add to this discussion,

could it be easier for you if you were recruited overseas from where you are. Will this give you a fresh start on your credit books in the new country?
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You know, I can't speak to this directly as I don't know anyone who has had this experience, but here's what I suggest based on past experiences:

1. I think your absolute best course of action is to reach out to the career services people, tell them exactly what happened, be completely honest upfront and clear about it. Ask for frank, honest and clear advice. If anyone has dealt with this, they have. I'd reach out to them now, not when you get there. There may still be things you can do to mitigate.

2. Although it did not happen to me, I have worked for firms that on the first day they say they will be getting you a corporate amex card and if you believe that you wont qualify for it, go talk to HR. My old boss later admitted to me that she was one of those people. I got the impression it wasn't a big deal. Granted, bad credit is not the same as a bankruptcy, and this wasn't an investment mgmt firm, but hey, its a ray of hope right?

I've thought of contacting the career services office of the school I will attend and asking them what to do, but I'm a bit paranoid about them rescinding my admissions offer if I tell them about the BR. Can they do that?
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Not sure how it is for other fields, but for people with jobs with a securities license (series 7) such as wealth management, asset management, and trader, bankruptcies and other credit/criminal events are reported for the last ten years. If you're 6 years out of the event, and have another 2.5 years before graduating B-school, you'd still fall in that window.