Will a past bankruptcy disqualify a family for adoption?

My wife and I have been considering either an international adoption or possibly even one through the foster care system. Three years ago, we had filed for bankruptcy. Our credit still hasn't recovered, but we're doing fine financially. I've heard that the entire homestudy process can be exhausting. I'd like to pursue this, but I'm worried about being turned away.

ozpy3

NO!

Penny P

the homestudy will look in to your financial situation at present time, and as far as I know you shouldn't have to disclose what has happened in the past. Our homestudy did not include any past financial issues. (not that there were any) We had to produce copies of our current checking and savings accounts as well as our life insurance, health insurance and retirement, and then also a summary of our debt that we have now, including mortages and balances on loans.

Sophie

If you can prove that you've learned from that experience, and are financially stable (or even better) now, you should be fine.

Randy B

Nope. It shouldn't at all. In my experience, with one international adoption and one domestic adoption, they only ask some questions to make sure you are gainfully employed and able to support a child or children. There is normally no credit check and I've never even had to provide a pay statement.

Of course, things could be different in your area or with the agency you are using but I suspect that it will only be the most basic of inquiry during the home study.

Independ"ant"

Unfortunately no.
If they did, a large portion of Aps wouldn't have qualified.

Adoption agencies only want your check for the purchase.

A lot of Aps had to get second mortgages based on appraisers fraudulently inflating the value of the home during the re fi as well as getting multi credit cards and taking cash advances off of them just to come up with the cash and make it appear like they had more money than they really did.

Fortunately with the credit crunch this is preventing more people from doing it.
Unfortunately for the kids, many are facing or have lost their homes because they can't make the mortgage payments because the irresponsible Aps tried to live beyond their means.

Try foster care and adopt a teen. Just make sure the money they give you is spent directly on the child.

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