Place I work going Chap 11, what happens to my Credit Score?

Question

I have a debt/available credit ratio of 62%, and it is all credit card

Answer 1

Your company's credit doesn't affect yours at all unless of course they stop paying you. I had that happen where we were all let go without final paychecks or withheld paychecks. The company may pick itself up again or it may close but you need to watch out for YOU. Keep your credit score up and start to save money for a "what if" situation to hold you through until unemployment kicks in, about 4-6 weeks. But, knowing what you know, now may be a good time to find a new position. It is far easier to find a job when you have one than when you NEED one. But your credit won't be affected by your companies finances.

Answer 2

The place you work for shouldn't affect your credit rating.
If I was you, I wouldn't worry about your credit rating. You don't need more credit anyway. You need to be worried about paying down the debt you have rather than trying to figure out how you can find a way to borrow more.

I've never worried about my credit rating and it's near 800. I just use good financial management every month.

Answer 3

Nothing happens to your credit score - it has nothing to do with the rating of where you work. Make sure you pay your bills on time though!!!!

Answer 4

Chapter does not, necessarily mean you will be unemployed. As long as you pay your bills you should be fine.

If you do become unemployed, the get another job immediately. Don't do the crap of not accepting a job because it doesn't pay as well as your old one. Get a job and then look for a better paying on your off time.

Answer 5

Well, that is a very good question.If i knew i would help but i dont know so i will talk to you about bread. Bread, so many wonder. Hnce wonder bread. dont we all love it . it tase sooooooooooooooooooo good. i love you. and bread. good luck with the credit score.