How many ways can a poor credit score affect you? If a person is applying for a new a position or a new employer a credit check may be required. This is true even if you have been with your current employer for years. This is especially true if you will be handling cash.

Is this fair?

Probably not but this is the new normal with the advent of instantaneous credit and background checks. The premise behind this is that a person with poor credit is more likely to steal. A correlation has never been shown to exist supporting the widespread use of this tactic.A vicious cycle may ensue, as a person who has been underemployed or unemployed suffers credit problems. A good suggestion is to contact your creditors and ask for help before your debt becomes unmanageable. If all else fails, run do not walk to a bankruptcy attorney. The creditors have legal advisers working for them, you may have to do the same. Please make sure if you do file for bankruptcy to include all your bills and old debts. A persons under stress will make errors that they would not otherwise make. A financial burden may play havoc with your memory.

A poor credit score may affect your ability to borrow money ,buy a car ,secure a mortgage or even get a low rate on your insurance.This does not even take into account higher rates on credit cards.

Do you have a child that may attend college? A poor score will raise its ugly head when you try to secure a student loan. This may be the difference between attending a private university or the local community college.

If you are having financial difficulties or are aware that they may arise in the near future, call a professional for help today.

FYI One more thing regarding employment, if you are employed by the government a major policy shift may be underway to root out employees who owe back taxes. I believe that forewarned is forearmed.

Listed below are some links I have found helpful when trying to improve your credit.

http://http//www.cccservices.com/
http://www.creditimprovers.com/

 

 

 

 

 

 

Posted 3:47 PM

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NOTICE: This and all content is developed from sources believed to be providing accurate information. The information in this material is not intended to be used as tax or legal advice. Please consult with a tax and/or legal professional for detailed information regarding your individual situation. Some of this material was developed and shared by Cobos Insurance Center, Inc. to provide information that may be of interest. Cobos Insurance Center, Inc. is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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