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Credit card debt can affect employability

The employment market is fiercer than ever in places like South Florida. A very large number of people often vie the same position, even in instances where they may actually be overqualified. Under such conditions, it’s little wonder that resumes are scrutinized so intensely by employers. However, there is evidence that factors like a person’s Chapter 7 bankruptcy are considered by employers when making hiring decisions.

Oddly enough, politicians like city mayors, state senators and the President of the United States may pursue such high offices without fear of being judged for having poor credit because credit reports are not considered public information. However, employers in many fields take credit reports very seriously.

Law enforcement and the military

The military and law enforcement communities both prize personal responsibility as an important trait in new recruits. As a result, poor credit and or inconsistencies in personal finances can be viewed as illustrating a lack of personal accountability. A police officer with financial challenges may be viewed as more apt to take a bribe. Similarly, a service member with bankruptcy on their credit can be denied security clearance.

Book balancers

Anyone interested in being a mortgage loan originator may not qualify for a license if they have bad credit. The mortgage licensing industry expects loan officers to illustrate that they are financially responsible on a personal level and deserve the trust of their clients. The accounting industry also holds employees to high standards, and strives to have auditors and other professionals serve as good examples to customers.

By prioritizing the contents of a credit report in the hiring process, employers may be overlooking more relevant qualifications.

Source: FOXBusiness, “7 Jobs that Require Great Credit,” Erica Sandberg, November 6, 2013

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