Can a Poor Credit Score Adversely Affect Job Offers?

Many people receive a poor credit score through no fault of their own. It’s not as if they’ve deliberately or recklessly gone out to get one. The reason could be as simple as a deteriorating economy, job loss and a pile of bills – that’s misfortune, not a crime. Most people want to pay their way more than anything else but find themselves in unfortunate circumstances where they just can’t do it.

These days, access to public information is easy – and many prospective employers want to know as much about you as they can, before offering you the job you’ve applied for. Depending on the type of employment you’re seeking, this may include things like a police check or obtaining your current credit rating with agencies such as Veda Advantage or Dun and Bradstreet. If there are any recorded court judgements against you (whether you’re aware of them or not), or you haven’t paid a utility account on time and it has been passed to a debt collection agency, or loan repayments have been missed, this is immediately picked up by these organizations and can be obtained from them for a small fee.

If your career is in management, law or finance for example, your personal credit history may be considered important, since you’ll be advising people about monetary matters. This is where things can get a bit rough. You need work to be able to pay bills and maintain your lifestyle but your attempts to find it may be hindered by your unfortunate history.

Many people look for jobs through recruitment agencies and it’s possible that they may wish to research our credit score – not because they think it makes you any less employable, but that it can give insight into a person’s character, reliability and stability. If they want to place someone in a role where the expectation is that they will stay there for a long period of time then a person’s credit history may help them assess the applicant’s suitability.

It is not uncommon for a person’s job offer to be withdrawn from the table because of a poor credit rating.

If you’re one of those unfortunate individuals who has a poor credit record and outstanding debts, it may be worth your while seeking the services of a professional financial advocate. These people can negotiate with creditors and reporting agencies on your behalf and more often than not, can have these entries expunged. They know the laws with regard to credit as well as your personal rights for privacy and it is not an uncommon result for them to not only clean up your credit file but also have the debt cancelled or significantly reduced as well.