Whether you are unemployed or searching for a new position negative credit scores can gravely impact your employment. Potential employers may review your credit report as an indication to your quality of work, integrity, or dedication. While life’s circumstances such as divorce, medical bills, or layoffs may cause financial constraints, employers are still likely to believe that fiscal irresponsibility may weigh heavily on your character and work ethic.
Here are 3 Ways you Credit Score can Affect Employment and What you Can Do About It.
1. No jobs in finance – If you love working with numbers and your looking for a job in finance or banking expect a credit check. Financial finesse is an expected part of your job performance and if your report shows you lack skills in that area personally its highly unlikely you will get hired professionally. What you can do, clean up your report, wait some time and reapply.
2. Money Problems – Employers want you focused, engaged, and productive at work. If they find that you are in too deep financially, meaning you owe far more than you have they maybe concerned about your mental capability to perform at capacity. If you are cleaning up your report or just feel on difficult times explain it to your employer in a letter that will help them better understand your circumstances.
3. Cycles of unemployment – If you are unemployed and have mounting debt and then you find that you are denied a job due to credit it causes you to remain in a cycle of unemployment. In order to move out of that place and move forward you have to down-size, create more cash flow, pay down your debts and restore your credit.
Having good credit is a necessary in the world in which we live in today. So many of our life’s choices are adversely or positively affected by our credit ratings. It’s important as a consumer to not only know where you stand but know what you need to do to improve your scores and remain in right standing as a consumer and business owner. Credit reporting errors, monetary difficulties, and negative impacts from the economy are not the end for you. There is more to your story and I can help.
Contact me now!
Maurice M. Green – Your Credit Coach