Ok Please be honest with Me Does Bad Credit Prevent me from becoming Employed?

Question

I am asking because I have a feeling that it does and it makes it hard on People to do things with bad credit on their credit report.

Answer 1

Some employers check credit and use that information as a factor in employment. Almost no employer uses it like a drug test 'anyone with crappy credit doesn't get a job', but it's a factor.

Some do not check at all.

So, your answer is a solid maybe. It depends on where you are applying, and how strong the other factors in your application are.

Answer 2

Yes, it can be a factor in establishments like: Retail, Banking, Accounting and any positions in which confidentiality is a factor. However, the good thing is that over time the impact of credit will lesson as time passes. In the meantime, go to a local department of labor and/or use the services of a temporary agency in order to obtain employment for right now. Once you restart to pay down your debt regularly, you should have no problems. If you need help to get started, use Care One Credit Counseling Services. They helped me and are the best. However, make sure that you obtain disability and health insurance during this time. So that when you start working again, that if anything happens to place a dent in your plans, you will be able to "rally" back quickly.
Good Luck!!!

Answer 3

It definitely can. If the prospective employer actually does a credit check (some do and some don't), it's much more likely to lower your chances of getting employed. Employers generally see a person with poor credit as someone who may steal from the company to pay their bills or someone who isn't responsible (they buy things, but don't pay).

To be honest, I think having bad credit will affect the likelyhood of being able to rent an apartment more than getting a job.

Answer 4

No It DOes Not.. i Have The Worse Credit In The World A Score Of 450 That Is Not Good.. But I Have A Really good Job As A Trust Operations Assistant At A 1031 Tax Exchange Company And I Am Only 23 Making 14.92 An Hour.. I Plan On Bettering My Career But For Now It Pays My Rent Car Note And Bills... So No It Does Not Hurt Your Chances Of Getting A Job.. But I Am Also Cleaning My Credit Up Just Recently Consolidated My Past Due Collections

Answer 5

The only way it would is if it was required to have good credit, and you will be notified upfront about this. This isn't very common though. Many people think that a lot of companies check your credit to determine hiring you or not, and that is just not so. They use your info for background checks and past employment, not for your credit score. That is absured and it doesn't prove anything unless you are buying from them or getting a loan from them through your employment. 99% of the time, your credit will not hurt you in any way as far as a job is concerned.

Answer 6

As others have said ... Some employers feel that poor credit history shows that you are not responsible. In addition, poor credit history and huge debts may mean you are more likely to steal or embezzle from the company. I believe there is a law which says the US government will not hire an employee who is not in good standing on a US government guaranteed loan (for example a VA loan or a government guaranteed student loan).

In addition, employers do not want to deal with wage garnishment or subpoenas for wage and employment records which can come from bankruptcy and tax evasion cases.

Answer 7

If you have bad credit, there is the risk that a company will not hire you if part of that company's employment screening involves credit check. And unfortunately, the number of employers doing credit checks on potential applicants is growing -- even federal government routinely looks at the credit history of their applicants

Take for example the following articles on how bad credit can make it difficult to get a job

How bad credit can cost you a job http://moneycentral.msn.com/content/Banking/Yourcreditrating/P87306.asp

Applicants Cry Foul Over Employment Credit Checks http://www.insidecounsel.com/issues/insidecounsel/15_158/labor/13-1.html

Answer 8

Bad credit can definitely impact a potential job, if they check your credit history. But not all jobs do that, so it would depend on the actual employer, and also what their policies are with respect to your credit and how much they value good credit as your overall evaluation...

Answer 9

Depending on the company, yes. If they are using credit as a basis for hiring, they will inform you in the application.
This makes ZERO sense to me too. Seems that a person with poor credit has more incentive to work! However, the companies don't see it that way.

Answer 10

Your credit shouldn't have anything to do with employment, but it depends on the company. Some of them think there's a connection between somebody not being responsible enough to pay bills in full every month and not being responsible enough to show up for work every day. My daughter's bankruptcy affected her auto insurance premiums. So it all depends on where you are trying to find a job. You might want to call the personnel office of the companies you have been denied employment by and see if it had anything to do with your being rejected and ask them for advice on how to fix that for future potential employers.