SYRACUSE -- In this slumping economy, it's getting even more competitive to find a job. With more than 5 million Americans now out of work and thousands of them right here in Central New York, potential employers have plenty of candidates to choose from.
And along with the competition, there's something else that could stand in your way: your credit rating. "Part of what companies are looking for is to make sure that they maintain integrity in their own company, for example, if it's a finance company," said Gary Thurber of the Consumer Credit Counseling Service of Central New York.
It's a trend Thurber is starting to notice more. It used to be when you were applying for a loan that people started digging into your credit history. But now, a growing number of employers could be checking too. "I think they would be looking at trends altogether. If there's a history of total mismanagement. They probably wouldn't be worried if there's a late payment here or there," Thurber said. But if there's collection accounts or series of missed mortgage payments, that could spell trouble.
Bottom line, be upfront with the potential employer, especially if you were recently laid off and find credit card bills piling up, but you have a history of being fiscally responsible. "Honesty is always the best policy. If you run into that problem and you know that they're going to pull the credit report, then just let them know," Thurber said.
Companies should notify you if they're pulling your credit report. In the meantime, make sure you're paying the priorities, your mortgage and your car payment. And then cross your fingers and hope the potential new boss doesn't hold your personal finances against you.
