While there are still numerous men and women who are unemployed despite a somewhen positive report of 117,000 job additions in July, the unemployment rate remains around 9% and there are some areas of the nation where unemployment has reached double digits and here in August it is still the case where some men and women are struggling to simply find a job that will allow them to make ends meet. Yet, what has hindered some job seekers in the past may be their financial life, as there are certain employment opportunities or employers who are looking at an employee’s credit history to see whether certain aspects of their personal life may point to irresponsibility.
There have been some employers that have stated that an interviewee’s credit history will not heavily factor into their decision as to whether these men and women will get the job, but there have still been complaints from some unemployed individuals that they feel their bad credit score may have hindered them from finding an employment opportunity. While there is still speculation in this area, the topic has led some consumers to begin the process of repairing their poor credit especially when they are looking for a better job opportunity.
Understandably, individuals who are unemployed may not be in the best position to begin repairing and credit score as many individuals will accomplish the bad credit repair task by spending on credit and promptly repaying what they owe, which is something that those who are facing limited or no income simply cannot do. Traditional consumers may be in a position where they can use credit cards, acquire personal loans, or simply keep various debt obligations up to date as a way to increase their credit score, but in some cases even something as simple as paying bills can be difficult for unemployed men and women to accomplish.
However, consumers who are in a position where they could stand to improve their bad credit score in the hopes of helping their employment opportunities might not necessarily gain a job as a result, but of course there are some areas of the job market where a consumer’s poor financial life may be a problem. Some administrative jobs, accounting positions, or banking jobs, just to name a few, will obviously require that a jobseeker have their personal finances in order since they may be dealing with a company’s finances as well.
What underemployed jobseekers or individuals who are just looking for a new job have been prompted to do by advisers is explore some of the bad credit repair options that are available for them, like help from a nonprofit credit counseling agency, simple budgeting practices, or working to pay down debts so that complications don’t arise. Once again there is no guarantee that simply improving one’s financial life will lead to a job nor does it necessarily result in the denial of a job, but unemployed individuals, or those who are simply looking to acquire a new occupation in the future, may not simply benefit from working to improve their credit score or maintain a good credit rating in how they will be viewed by a potential employer, but it goes without saying that these better financial practices will be beneficial in other areas of a consumer’s financial life too.