Looking for a job has been tough especially to older workers, but did you know that having bad credit is one of the main reasons why landing a job is even tougher? It is because employers are even wiser in choosing employees to be part of their workforce. Each of their applicants tend to undergo credit check in order to prevent embezzlement or theft, fear of lawsuits caused by irresponsible employee or get the sense of overall dependability of the candidate.
The trend on checking credit scores and history has reached all industries not just for financial institutions. Bad credit often fallout of employment as well as loss regarding health insurance. This is something that would definitely cause you to miss out opportunities of being hired to your desired position in a particular company.
Your credit score is seldom used or caused for disqualifying job seekers for most positions. However, there are certain steps you can take in order to minimize any damage that an employer might find. For you to protect yourself, it is important that you know what your credit report can as well as cannot tell your potential employees about you.
Most hiring companies use credit reports in order to find the most accurate in identifying details or information about the candidate, which includes his or her full name and previous address. Generally, though some might rarely does, particular firms are performing pre-employment screenings for some hiring companies in retail, technology, healthcare and banking.
However, most companies will run a particular full credit report on some candidate who would have the access to finances of the company. This is because those candidates that have financial oversight responsibilities are most likely important to undergo credit checks. Having a consistent pattern of living further than a high debt ratio could definitely be a red flag to employers and recruiters that you are not the right candidate for the position you apply for.
Moreover, doing a complete credit report has become common especially for the C-level executives. This is to instill or establish a standard that a company has financial mind, which will gain trust from existing and potential clients. Once clients see how a business life runs, will possibly identify and mitigate the risk of employer’s fraud or embezzlement.
Given the current climate in the economy, most employers have grown to accept blemishes on applicant’s credit. They know and realize that even exemplary, a particular candidate could possibly fall victims to layoffs, mortgage payments, missed bill and bankruptcy will result to poor credit score. So, having few blemishes on someone’s credit record will not likely to exclude you from consideration by hiring managers and recruiters, for as long as you are prepared to explain as well as verify information. However, seldom can you find a company that will have such thinking, for bad credit would connotes negative impact as to how would you perform in particular company. So the best thing to do is to settle first your bad credit or if possible avoid making blemishes on your credit history for you to get the job you’ve been dreaming for.
