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Collection vs. bankruptcy

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Anonymous
Not applicable

Collection vs. bankruptcy

My future employer wants to do a credit check and I think they are just looking for bankruptcies, but I have an account in collection.  Is that just as bad or will that be okay?  Thanks everyone.
Message 1 of 5
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cw81
Frequent Contributor

Re: Collection vs. bankruptcy



@Anonymous wrote:
My future employer wants to do a credit check and I think they are just looking for bankruptcies, but I have an account in collection.  Is that just as bad or will that be okay?  Thanks everyone.






Welcome I think it will depend on the employer and maybe how large the collection amount is and also what your function will be. I have had spotty credit for the past 7 years and that has included collections both paid and unpaid and I have obtained employment with 2 consulting companies in the Big 5 and with one of biggest financial companies in the world and also with a smaller consulting company and they all checked my credit. I didn't have a ton of collections but I probably had maybe 3 or 4 each time some paid a couple unpaid. To answer your question I don't think one will kill the deal but that's from my experience and others I know who have been in the same same situation. Good luck and I hope it works out for you and let us know what the results are.
Message 2 of 5
Anonymous
Not applicable

Re: Collection vs. bankruptcy

It would be in the financial industry so that is why I am asking and was concerned.  Thanks for answering!
Message 3 of 5
cw81
Frequent Contributor

Re: Collection vs. bankruptcy

Yes they can be picky I think it depends a lot what you will be doing for them I am sure you will be fine. I don't believe one collection will kill the deal. I hope it works out great
Message 4 of 5
fused
Moderator Emeritus

Re: Collection vs. bankruptcy

I'm not sure what your employer will think, but from a purely FICO scoring standpoint, a BK and a collection are equally damaging to scores, one is not worse than the other. Balances with collections oand BKs do not factor in scoring.
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