How Bad Credit Can Affect Your Chances of Finding Employment
Bad Credit's Negative Impact
In today’s economy good credit is extremely important, especially if you are in search of gainful employment. Although you may have an excellent resume, many well qualified applicants are getting turned down based solely on negative information found in their credit history. The purpose of this article is to educate you about the direct relationship between credit and qualifying for employment and to offer tips how you can more adequately prepare yourself to get a job.
As most of us are aware, the nation’s unemployment rate has remained unusually high due to the sluggish economy. As such, many people have been adversely affected; losing their jobs, having their homes foreclosed, and vehicles repossessed. This devastation has, in many cases, resulted in people finding themselves with bad credit. If you are among these job seekers, be forewarned you may be overlooked by potential employers because of your questionable credit history.
Bad Credit, No Credit... No Job
Mitigating the Damage
If you are of among the thousands of people looking for work, but have bad credit, there are a few things you can do to improve your chances of getting a job. First, it is imperative that you have a well-written resume highlighting your personal strengths, educational achievementsand work experience. If you need help creating a resume, professional services are available to assist you. For instance, ResumeEdge has a great reputation and is skilled at offering timely and cost effective resume building services.
Obtaining a Free Credit Report
The next step involves getting a copyof your credit history. The three credit reporting agencies are Equifax, Experian and TransUnion. It is advisable to purchase a comprehensivecredit report containing details from all three agencies from Credit Report. Make certain to scrutinize all information; in particular, check accuracy of accounts, dates, addresses and spelling of names. If you determine any information to be inaccurate, contest the details immediately.
You can also utilize Lexington Law to try to remove negative items from your credit report before an employment check is made. Although they aren't a magic bullet they do have a 20 year track record of successfully improving people's credit.
Additional Resources for Repairing Your Credit
Full Disclosure is Key
With a professional resume in hand and a clear understanding of your credit history, now is the time to start applying for jobs. Remember that today’s employers are fortunate to have a high number of qualified employee candidatescompeting for the same position. If you find yourself among the top applicants, and are asked permission to run a background and credit check, as the final step to make a determination, this is the time to disclose your bad credit situation. You will be surprised to learn that many employers are understanding and sympathetic but you must know the details of your credit issues and clearly explain what was the cause of them.
As discussed, economic turmoil in the nation has resulted in an unusually high unemployment rate. This has resulted in thousands of people losing their jobs, homes and vehicles, and is also the major contributor to causing damaged to credit scores. If you are among this group of people and in search of gainful employment, it is recommended that you obtain a professionally formatted resume and purchase a copy of your credit report prior to soliciting employers for work. Understanding your situation relative to the competition in the job market will serve you well!