Employment

My Credit Cost me my Job!

You may not realize that indeed your employers can randomly check your credit rating.  They have many varied reasons to do so. They may want to make sure that they have indeed made a good decision in having you represent their company by noting where you stack up with the rest of America or it could be more for their advantage to know that they will not have any issues with you.

If you have issues with your credit that could mean that your employer has to deal with debt collector calls on your behalf or even wage garnishments that their HR department has to make  sure to meet, meaning they have to cut a seperate check on your behalf and be in compliance with the court ordered mandate.

In some cases this can cost you a promotion and cost you more and possibly even cost you your job.

Was it that #&%^ Electricity Bill?

Maybe it is something as simple as a bill from your past that you were not even aware of because you have relocated or perhaps weren’t made aware that it was something due. It could just be those college loans catching up with you many years later either way it is not in the forefront and something that you have to deal with.

Any type of money that you borrow over time must be paid back.  There are so many loans available and so many ways that they market them that you may not be aware from the moment the transaction is complete the reporting begins either for or against you.  Read the fine print, never make a commitment no matter how simple and easy it seems without doing your homework. Maybe you are fortunate and never have to obtain credit or a loan to this point in your career, however that may not always be a positive thing either.  No credit can sometimes be just as harmful as bad credit.

Staying on top of things

There are many different ways to keep up with your credit numbers and many ways to correct them also.  Don’t be afraid to keep an eye on where you are on the credit scale and that anything you do in a positive way is reported as such.  Don’t find yourself needing a loan in a hurry thinking that you are ok to just walk up and get it only to be surprised and delayed in obtaining the loan.

Also be aware you are not the only one watching this – again – your employer has the right to make sure you are what they think you are and not someone who does not keep their commitments to others or always pays late or not at all.

Watch out for ‘easy’ money

Make smart decisions in where and when you get a loan.  Do your research and homework. Use modern technology to your advantage when it comes to loans.  Maybe your local lending institution is not the best way to go, perhaps you even need to change banks or join a credit union to get the best deal for you in the long run.  After all no one but you has to pay and endure the consequences if you don’t.

Sometimes you may marry into a financial situation, be it good or bad, that will affect you.  Don’t hesitate to go over everything you owe with your soon to be significant other so that you can work together to correct the error of your or their ways. Moving forward there will be no surprises.  This too can make you realize exactly what you have out there and what you will be building together going forward. Starting out with the right financial foot going forward can only enhance your relationship and help you as a couple in the long run.

It can also be embarrassing to go into your annual review knowing that you have made the biggest deal of the year to benefit the company and thinking you are due that big raise only to find out that they have found your bad credit history, making the situation uncomfortable for not only you but for them too.  They may not need to reprimand you or fire you based on this information but it becomes the proverbial elephant in the room and can totally overshadow any good you have worked so hard to accomplish. There is always someone waiting in line for your position any time they can.

Keep Personal info ‘Personal’

Be prepared and watch your personal information.  Only you can control your future both financially and personally.  No one did this deed for you and no one can correct it but you. You may find you have been “hacked” or had your identity misused but only by watching your information will you be made aware of this and handle it.  Just make sure you do it before your boss brings it to your attention.

To be aware of your personal status is always good,  just like closing that big deal to make you move ahead make your financial status work for you not against.  After all there are many other people always ready to take your job that are just as qualified as you are ….make sure and be the well rounded employee who indeed has it all under control as much as possible and you can never go wrong.