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Bad Credit: No Job

By
Real Estate Agent with 410-935-5844 Office 634480

Bad Credit: No Job

It's been a bad economy.  What does that mean?  Maybe you do not get that promotion that you were hoping to get, maybe your hours are reduced, maybe you take a pay cut, or maybe you lose your job all together.

Now what?  Normally, it might be as easy as getting another job, but a new twist has been thrown into the mix.

You would like to put your work history, with your many skills and accomplishments, on your resume and get it out to all of your contacts.  With the recession finally ending, it should not take long before you get another job.

However, with limited income, and in some cases none at all, you had to stop paying some of your bills, which, unfortunately, hits your credit rating hard.

But, so what, you will have a new job soon and will be caught up on your bills soon after.

You send out the resume, go for the interview, and, hooray, you are hired . . . well almost.  The employer calls you back and says sorry, but you have bad credit so the offer of employment is taken back.

WHAT? 

I am a machinist, or an electrician, or an engineer, or a "What in the world does my credit have to do with the job?"

These are the new rules, right or wrong.  So if you are thinking of walking away from your house and letting it go to foreclosure or are thinking about selling it as a short sale, then you better think twice for it may have a bigger impact on your life than you would have thought.

 

Comments (5)

Sara Woolford & Steve Golson, ALHS
iTexas Realty Co. - San Antonio, TX

Good post Ron.  It's true- employers run credit checks on job applicants!  So- if you need a place to live and you can pay your 'rent' to your lender- why trash your credit AND job prospects at the same time!?  -Steve

Mar 15, 2010 02:27 PM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Steve,

Thank you for the comment.

With certain financial strategies, people have become accustomed to asking if it will impact their credit, but a more pertinent question may be if it will impact their employment.

Mar 16, 2010 03:57 AM
Brian Bedford
Zenith Realty - Catonsville, MD

Ron,

Thanks for the info.  People look at a few pieces of paper and they think that they know you.

Apr 06, 2010 07:39 AM
Veronica Krzinska
Zenith Realty - Rosedale, MD

Ron,

If you are not a model citizen, then you will not be allowed to be a model citizen.

May 26, 2010 08:18 AM
Karen Krzniak
Zenith Realty - Towson, MD

Ron,

It all boils down to a culture of people who trust no one and find ways to eliminate most everyone.

Nov 08, 2010 05:03 AM