Here's my experience:
Two years ago, right when I found out I was to be laid off in 30 days, I applied for TSA (airport security). I went through all the interviews, etc, and passed, but failed the credit check. I can now see they list their requirements for a certain dollar amount of collections (forgot if $7,000 or what), no liens, and something else, forgot which. At the time I did not pass, I was below that dollar amount, but had a lien for $0 on my CR. I also was behind in my child support payments (yes, women have to pay, too).
This week is my one year anniversary working for a casino as a Compliance Specialist (like an auditor). They put me through an extensive check (not scores), which was very upsetting. They checked it when I started, then 3 months later. They let me know that they would be checking it again at one year, and that if I did not make improvement in the debts in collection or if any new ones appeared, they would reconsider my employment. I asked if I should start looking for a job now, and they replied it was just procedure, not a threat. I have a gaming license and do audits. Sure, people that are in my financial situation could possibly be tempted to do something illegal, and this is the place to try it. But, like I told them, check my background and my excellent reputation (after all that is why they hired me!).
I don't make enough money to hardly make it, let alone pay off the two small medical debts ($160 & $200). The large ones that are incorrectly stated ($4500) will drop off next year. I can't do anything about what the collection agencies say I owe (they are wrong). I have spent more hours than I can count studying these boards and writing letters. I have 7 school loans ($35,000), each with a 90 day late from when I was recovering from 1 year of being unemployed and living homeless. I have tried to get those removed, and so far, they reduced my payment instead of removing the lates. If effort counted for much, I would have a clean report, only I don't seem to get anywhere for my efforts. I can never buy a house or a car., or even get a $500 loan.
Anyway, who knows if I might loose my job just because I owe collections (or rather, my reports say I owe what I don't really owe) that I can't afford to pay because of my low income. You would think reputation is what counts, but it is the all important credit reports! It does not matter that for most of my life I had the top score you could have, or that I had AAofA of 31 years before they closed the account because of my ex charging on it when not authorized. So, here I am, old and trying to startover again.
4/25/11 FICO: EQ 761....EX 770.....TU 744
3/6/2011 FICO: EQ 710... EX 718... TU 710
09/09 FICO: EQ: 525
Starting Score: 2014 775
EX:694 TU:744 EQ:777
