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Contributor
Posts: 78
Registered: ‎08-17-2007

Denied employment due to bad credit

Just curious if anyone has ever been denied a job due to bad credit?  What was your score?  I just lost my job and i'm trying to prioritize my bills.  I would hate for my scores to go down but i might not have a choice if i can't pay my bills.  As i job hunt, i would hate to be denied employment due to my inability to pay some credit card bills.  Just wondering what they look for? BK, low scored, etc?    
Super Contributor
Posts: 5,703
Registered: ‎10-06-2007

Re: Denied employment due to bad credit

Don't know if this helps but if you have a government security clearence, as long as you disclose the information, uncluding BK, you would usually be okay.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Established Contributor
Posts: 508
Registered: ‎04-10-2007

Re: Denied employment due to bad credit

[ Edited ]
I had a credit check ran on me when I got my last job....and I am a nurse....go figure on that one. Anyways I had a chapter 13 I was still paying off and a terrible score but I still got the job....to this day I am not sure what they were looking for.
Message Edited by wildcat on 12-01-2008 05:07 PM
Message Edited by wildcat on 12-01-2008 05:11 PM
Established Contributor
Posts: 805
Registered: ‎05-11-2007

Re: Denied employment due to bad credit

scorepower, if you dont mind me asking, what type of job did you have that had credit requirements?
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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008

Re: Denied employment due to bad credit

I believe the majority of jobs that do credit checks are looking more toward what type of risk you would pose.  Meaning, are you going to embezzle or steal drugs to get your self out of debt.  The fact that you have bad credit should not, in and of itself, be the issue.  More likely the amount you are in debt would be the bigger issue.  If you were $300,000 in debt and not making an attempt to pay it off would look really bad.

 

Applying for a job in any type of financial institution and having bad credit could be more of a challlenge.

 

 

Regular Contributor
Posts: 160
Registered: ‎03-08-2008

Re: Denied employment due to bad credit

I just read an article about this on MSN money and what most employers dont know is that your credit score has absolutely nothing to do with how you are going to perform on the job.  As a matter fact, people with worse credit have been noted to perform better than people who have good credit.

Frequent Contributor
Posts: 401
Registered: ‎05-01-2007

Re: Denied employment due to bad credit

Scorepower, I have had several jobs and a consulting job with the Federal Government with a judgment on my report. One of the jobs gave me a copy of my background information including my credit report (it did not have score information on it) and I still got the job. Just as everyone has been saying, as long as they see you are attempting to make pay down your debt then you should be fine.
FICO Scores 7/15/2008: EQ 600, TU 546, EX 490
9/17/08 - TU 571,12/17/08 649,3/16/09 638, 6/14 642
ScoreWatch 12/17/08 EQ 646, 1/2/ 09 664, 2/2/09 684,2/12/09 673, 2/16/09 688, 2/27 674,3/3 682,4/16 685, 6/28 679
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Contributor
Posts: 78
Registered: ‎08-17-2007

Re: Denied employment due to bad credit

Thanks all.  I haven't been denied employment but was curious if i could not make my credit card payments, will that effect me in the long run of getting a job.  
New Contributor
Posts: 63
Registered: ‎02-07-2008

Re: Denied employment due to bad credit

I am a little late on this conversation but hopefully someone will read this.

 

I have been denied employment based on poor credit.

 

My credit problems are so close to dropping off. This fall, and early next year will be my 7 year mark. I was one of those college kids that got them into a very deep hole. Rather than declare bankruptcy, I have worked on getting the debt paid down. I do have some outstanding students loans, which have been paid on time since they went into repayment. I have credit card debt that stays in check and all of those payments have been made on time for the past 3 years or more. My credit card debt is under $1500.

 

My score is still low, ranging from 550-620.

 

It seems stupid that if I chose the "easy" way out, and just declared bankruptcy I can't be discriminated against. I feel like I am being punished for trying to straighten things out on my own.

 

Does anyone have any ideas on how to get past this? My industry is very specific. I went to a very prestigious and might I add very expensive vocational school to obtain coveted diplomas in my industry. They are useless if I can't get my foot in the door. Has anyone ever sent a letter of explanation to the potential employer?


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Senior Contributor
Posts: 3,240
Registered: ‎04-03-2008

Re: Denied employment due to bad credit


scorepower wrote:
Just curious if anyone has ever been denied a job due to bad credit?  What was your score?  I just lost my job and i'm trying to prioritize my bills.  I would hate for my scores to go down but i might not have a choice if i can't pay my bills.  As i job hunt, i would hate to be denied employment due to my inability to pay some credit card bills.  Just wondering what they look for? BK, low scored, etc?    

As others have said it depends on the nature of the job and other factors so there is no universal answer.  In most cases, however, the key point is to make sure they learn all negative information directly from you before they learn it from somebody else.

 

In general, especially in this economy, if you have a totally clean history prior to a period of unemployment and then a few lates appear duing the period of unemployment I would think most employers will understand.  Of course if a person had lates while still working that would be a different kettle of fish.

 

Also, not all employers pull credit history, none of mine ever has.  Usually they pull credit history where specific requirements exist such as needing a security clearance from the government or some kind of fiduciary responsibility.  None of my jobs has ever involved classified information or handling other people's money.

 

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
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