The Job Applicant’s Death Spiral

How your credit can get you hired, fired, and even stop a promotion. Part iii of iv: The job applicant’s death spiral.

It starts with someone unemployed searching for a job. Then, one of the two following factors causes their job applicant’s death spiral:

1) Their credit is negatively affected by errors or identity theft.

2) Or they used up their savings and can’t pay bills on time, negatively affecting their credit.

We learned that over 70 percent of employers check credit reports, and poor credit can derail a job or promotion.

This combination of factors happens more often than you think.  It’s challenging to recover from this downward spiral, which may mean long-term financial stress and lower-paying jobs. Time is the problem in most cases. Ideally, you can land a new job fast, but correcting issues on your credit report won’t happen overnight.

The job applicant’s death spiral is even more frustrating if you feel your credit shouldn’t matter to a potential employer, especially if you have the proper education, talent, and experience.  Even explaining you’re the victim of identity theft may not be persuasive enough.

So, how do you recover from the job applicant’s death spiral?

Use SmartCredit.com and its $1 Million Identity Fraud Insurance. It helps prevent identity theft with coverage for banking, savings, brokerage, lines of credit, credit cards, and more for the entire family.

Millions of people in the U.S. fall victim to identity theft and fraud every year, whether they know it or not. If it happens to you, use our Action Buttons to solve the problem.

Also, be proactive!  Make sure your credit is the best it should be using our Action Buttons to fix errors, get goodwill corrections of negatives and settle debts.  It works fast and is very effective.

Coming soon:

Part iv – Getting fired because your credit changes during employment.

David B. Coulter – founder and C.E.O. of SmartCredit®

Categorised in: Credit Report, Credit Score, Debt, Employment, Improving Credit, Money & Identity

This post was written by David B. Coulter