Hello,
My business is falling apart. I am plaining to file bankruptcy. Also, I want to invest into pilot career.
So, My what question is that Does bankruptcy prevent me to be a pilot? or Will I not be hired by major airlines because of my bad record?
Thank you,
Henry
Henry,
Know that ALL airlines (Regionals and Majors) will run your credit so I’d be prepared to discus it during an interview. If you’re filing for bankruptcy now that put a few years between it and the time when you’ll be looking to get hired. I’d do my best to clean things up. The airlines understand people have financial problems but they also want to so a sense of responsibility. Provided you don’t continue and things improve you should be fine. As for getting hired by a Major there are zero guarantees that anyone will regardless of their credit.
Adam
Henry,
I will be honest, I do not think that a bankruptcy looks good, but I also do not think that it will prevent you from being hired at an airline.
I would ask though how you intend on paying for flight training as it certainly is not cheap.
Also, I am not sure that a major life event like this is the right time to make career decisions. Think long and hard before you make such a choice.
Chris
Thank all for reply,
I was in a trap of credit predator. I have tried to negotiate with them how to pay them back that I afford for it. I borrowed $35,000 now they ask for $90,000.
I am loosing almost everything. Yes, flight training is very expensive but I can borrow it from my family.
I think this a career I like. I like traveling and it pays for traveling.
I am going to start it in this week or next week at Pinnacle first for PPL and then fast track at ATP flight school.
Henry
Interview Question:
Interviewer: So Henry I see that you started flight training in Sept 2018, that’s the same time you filed for bankruptcy? How’d you get the money for flight school?
Henry: I borrowed money from my family.
Interviewer: Couldn’t you have used that money to pay off your debt you incurred? Sounds somewhat irresponsible.
How would you respond?
Adam
It does not mean I do not have responsibility. I want to pay for what I owned, but they trap me in very high interest.
over all total my debt is about over $300,000 including business loan, suppliers, personal debts.
So, I could not handle it.
Henry,
I’m not here to judge and the Regionals are hiring like crazy so you should be fine there. All I’m saying is you’ve got quite a few years before you’re ready for that Major airline interview. Plenty of time to work on that answer.
Adam
Henry,
I am with Adam on this one. I think you will be fine at the regionals, but that this will be a potential roadblock at the majors.
Your answer needs work, I am pretty sure that the high interest rates were buried somewhere in the fine print when you signed for the loans.
Chris