Good Job Seeker, Bad Credit. Are You Screwed

Good Job Seeker, Bad Credit. Are You ScrewedGood Job Seeker, Bad CreditGood Job Seeker, Bad Credit. Are You ScrewedI cant get a job because I have bad leistungspunkt, and I cant improve my credit because I cant get a jobIt feels like a classic Catch-22. Fortunately, the reality is not quite that harsh. In most cases, an imperfect credit record will not automatically prevent you from getting the job or vorrcken you want. Here are answers to some typical questions regarding the good job seeker-bad credit conundrumIs it Legal for an Employer to Check Your Credit?Yes, but they have to inform you and get your signed permission if theyre hiring an outside screener. (But no permission is required if theyre doing their own fact-checking.)Why Do Employers Check Your Credit?They presume a person with money troubles will be more inclined to steal in a job that involves direct access to cash or valuables.For people working in financial industries (banking, accounting, investments, etc.), having a track record of fiscal irresponsibility calls into question their financial expertise and suitability for the job.Government or other sensitive jobs often mandate full background checks (including credit reports) for security reasons. An employee whos deeply in debt is more likely (statistically speaking) to accept bribes, sell secrets, or take part in other illegal income-generating schemes.Credit checking can sometimes be another way to verify facts, dates, and numbers on your resume (e.g., discrepancies between education dates and student loan dates).If Your Credits elend Perfect, Should You Bother to Apply?First, its important to realize that only about 35% of companies actually pull credit reports on current and prospective employees. In other words, almost two-thirds dont.If you have ordinary glitches in your history, such as a late credit card payment or two, its not likely to be a deal breaker.If youve defaulted on loans, faced repossessions or foreclosures, bounced a lot of checks, and have collection agencies hounding you, your employment choices will be more limited.In general, you have a clean slate once all your credit troubles are at least seven years in the past. Paid tax liens, accounts placed for collection, and any other negative information (except criminal convictions) are removed from the report after seven years.What Can You Do About It?First, get a free copy of your credit reports, so you know what employers are going to find. Contact the reporting agency and get any errors fixed, prontoThen, do some research of your own about how to fix bad credit and beware of scams, because plenty of shady people are out to prey on you when youre desperate.If your credit problems are the result of factors beyond your control (such as medical bills) be up-front about it with prospective employers (but ONLY when youre being offered a job and its probable theyre going to check your credit).And if your problems are caused by, ahem, living beyond your me ans, check out this surefire advice from SNL Dont Buy Stuff You Cant Afford. Ouch For full information on this topic, including the legal intricacies of the Fair Credit Reporting Act (FCRA), visit the Federal Trade Commission web site.