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.
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