CareerBuilder & Monster File For Chapter 11 Bankruptcy Protection

These days, most people find their jobs by searching on one or more job board websites. You might even be scrolling through this article while at a job you found on Indeed or ZipRecruiter. But along with LinkedIn, these sites have established themselves as the current dominant forces for online job searching. In previous generations, you might have used Monster or CareerBuilder to search for a new place of employment. But these companies were already struggling when they joined to form a singular firm, CareerBuilder + Monster. These struggles have reached a new level for the firm, which filed for chapter 11 bankruptcy on June 24, 2025.

Career Builder + Monster’s stock fell by 40% over the course of 2024. The company stated that it had somewhere between $100 million and $500 million in debts in its bankruptcy petition, but only between $50 million and $100 million in assets. While the firm’s bankruptcy plan has not yet been finalized, the filing suggests that separate aspects of the business will be sold to different investors. JobGet Inc. plans to buy the job boards aspect of Career Builder + Monster. Valsoft Corp. plans to buy Monster Government Services, and Valnet Inc. plans to purchase Monster Media Properties. These corporations are all considered stalking horse bidders, meaning another buyer could step in and win any of these assets at auction by placing a higher bid.

Most people have heard of Career Builder + Monster as separate entities due to their domination of the online job search market in the 1990’s and early 2000’s. They might not be aware that the two joined as one firm, but they probably know that competitors like LinkedIn and Indeed have stepped in as the industry leaders. Many businesses are filing for bankruptcy due to the economy, and the job market is not as strong as it has been in the past. If you are struggling with debt in the Henderson area, filing for bankruptcy can get you back on track. Learn more about the process from an experienced Henderson bankruptcy lawyer today at 702-899-3328.

How Unemployment In Henderson Can Lead To Bankruptcy

Henderson’s Unemployment Rate

In the United States, medical debt is the leading cause of bankruptcy. Some of the other leading causes of bankruptcy include divorce, natural disaster, and long-term unemployment. When two major job board sites file for bankruptcy, it may be a sign of an unemployment situation on the horizon. If that leads to fewer people traveling to Nevada, it could create even higher unemployment rates in Henderson. The most recent month’s unemployment data available is April 2025, for which the unemployment rate in Henderson and North Las Vegas was 5.2%. This is a decrease from the previous month’s unemployment rate of 5.6%, and 5.9% the month before that. However, this doesn’t necessarily mean that unemployment is getting better in the Henderson area. The April 2025 unemployment rate of 5.2% represents a 0% change from April 2024, meaning unemployment is at the exact same level it was at this time last year.

How Debt Accrues During Unemployment

Unemployment is only offered to terminated employees who meet certain requirements, and it is not nearly enough to survive off of in the current economic environment. Some households have savings and alternate sources of income that allow them to get by while the individual seeks out new employment. But other people who lose their jobs have to rely on credit cards and personal loans to make ends meet during that time. The issue here is that the interest rates on these lines of credit can be much higher than for other types of loans. So even when the individual finds a new job, all of their disposable income could go towards paying off that balance and it still might not be enough. With the cost of living as high as it is, a job needs to pay extremely well to pay for current bills as well as bills from the past several months.

Clearing Unemployment Debt With Chapter 7 Bankruptcy

How discharging debt from unemployment looks will depend on which chapter of bankruptcy the debtor chooses to file. All the debt must be unsecured if the debtor wishes to clear it in chapter 7 bankruptcy. Credit cards and personal loans, like payday loans, are unsecured. But title loans are secured loans with the borrower’s vehicle attached as collateral. A debtor remains liable for secured debts even after a chapter 7 bankruptcy discharge. But if the debtor only has unsecured non-priority debt from their period of unemployment, it will be fairly simple to discharge in chapter 7 bankruptcy. Chapter 7 only takes a few months from filing to discharge, and beyond preparing and filing their petition, the debtor only has to attend one hearing and complete online debtor education courses to clear their debts. One issue a debtor seeking to clear unemployment debt should look out for here is limitations on “luxury” credit card spending and cash advances before filing.

Declaring Chapter 13 Bankruptcy After A Period Of Unemployment

Chapter 13 bankruptcy is more involved than chapter 7 bankruptcy, but many debtors choose it for the unique benefits it makes available. If a debtor accrued debts that can’t be discharged in chapter 7 bankruptcy during their unemployment, they may want to consider chapter 13 bankruptcy instead. Chapter 13 pays off debts, including title loans and non-dischargeable luxury credit card debt, in a payment plan of either 3 or 5 years. The term of the payment plan depends on the debtor’s income level, i.e., whether they also qualify for chapter 7 bankruptcy. The debtor must have sufficient income to pay off mandatory debts to qualify for chapter 13 bankruptcy, so a debtor should typically wait until finding a new job before utilizing this method of debt relief.

Whether you’ve lost your job recently or you’ve been on the market for a while, you should learn more about the bankruptcy process if you believe there is even the slightest possibility that you file. The more time you have to prepare your filing, the more strategies you can take advantage of in the process. Discuss your situation today with an experienced Henderson bankruptcy lawyer at 702-899-3328.

Struggling With Debt? Can’t Make Your Payments Due To A Stale Job Market? Start Planning Your Henderson Bankruptcy Filing Today.

When two major names associated with job postings file for bankruptcy, it can be demonstrative of the larger economic circumstances leading to the filing. AI presents endless competition and obstacles for businesses, and takes away jobs that might not be so simple to replace. The pandemic changed how people view their spending, and these views have never fully returned to how they were before COVID-19. Nevada’s economy is uniquely affected by how much disposable income people have available for travel, dining, gambling, etc. If you live in the Henderson area, you may see your income start to drop- as your living expenses continue to rise- if people continue to financially struggle. Get ahead of any collection efforts your creditors may take against you by preparing for a bankruptcy filing now. Discuss your potential bankruptcy filing with an experienced Henderson bankruptcy lawyer with no risk or obligation. Schedule your free consultation today at 702-899-3328.