Child Adoption with a Bankruptcy on my record?

Question

My wife and I are considering adoption, but we have a bankruptcy on our credit. Its also pretty recent. Like, this August 2009 recent. Would this hinder us from adopting?

Additional Details

My wife and I are considering adoption sometime in the future, but we have a bankruptcy on our credit. Its also pretty recent. Like, this August 2009 recent. Would this hinder us from adopting? Is it even possible?

Answer 1

If you filed for bankruptcy, that is alright. You just need to show you can afford to pay for the adoption and afford t raise the child. Your past is your past. Good Luck with your adoption process.

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Answer 2

You were discharged from the bankruptcy in Aug./09, or that's when you filed?

It takes years in most jurisdictions for a bankruptcy to leave your record, and depending on why you had to file, you may not be a candidate for adoption anyway.

And I agree with Abandoned...If you are planning on adopting an infant through an agency, that should cost a pretty penny...how does a person who just filed for bankruptcy plan to pay for it?

Give yourself some time to get your finances straight, get yourself good and stable, and look into foster adoption. It's free and it actually provides homes to the kids who need them.

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Answer 3

Not really. You can adopt from foster care as long as you have enough income and it is stable.

However, the reasons why you went bankrupt will be looked at closely.

It does, however, disqualify you from the private agency adoption route, unless you have substantial savings and wealth left over somewhere in a sock or mattress.

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Answer 4

If you recover well it shouldn't affect you in the future. It would affect you right now though. Adoption agencies are looking for people who have been relatively stable for at least a year - no divorces, marriages, child loss, pregnancy, loan defaults, etc. It would definitely have to be discharged.

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Answer 5

How did you get out of a bankruptcy with enough money left to adopt????

Seriously, ante up the secret man!

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Answer 6

It could get in the way. You should talk to an agency or an attorney.

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Answer 7

Bankruptcy where I live stays with you for years, that I know of. It would affect your adopting a child if you choose to work through an agency, but you can adopt through the foster care system and you do not have to pay, or very, very little, documentation, etc.

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Answer 8

At this point, it's important to start showing a responsible plan to pay bills, stay on track, and rebuild not only your credit, but your life. Foster care adoption is not only providing a child who needs a home one, but it's also the least expensive.

There are several types of bankruptcy, and I'm assuming you took one that allowed you to rebuild everything, and was just discharged in August 2009. This (for those who don't know) might have taken years to formulate, process, and show financial responsibility again. Also, in this economy, I think we'll be seeing more people who adopt who have shown a bankruptcy in the past, due to job losses, homes purchased for more than they're worth, and high medical costs.

When I adopted, my past credit wasn't ever run. My present finances were, and I had a budget I turned in, that showed all my income, and all my expenses, and it showed an "allowance" of what I estimated a child's expenses to be. I'd urge you to build a savings account, and have a cushion with it, to show further responsibility, such as paying in estimated child costs into the savings every week/month for a year. Good luck!

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Answer 9

Yes, thank God.

Source(s):

being adopted

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Answer 10

Different agencies have different standards as far as those things go. I would have to agree with the others though, if you went through that kind of financial trouble, a child isn't probably something you should consider now.

Source(s):

Adoptee, mother of 5

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