In this article today in the Pittsburgh Post-Gazette, it talks about how employers are checking credit scores more and more. According to the article, the occurrence of credit checks done by potential employers rose from 35% in 2004 to 42% in 2005. Thats a lot. That means that not only do you have to have the perfect resume, you have to have the perfect credit score!

Now, if any of you are like I was in college, you’re working a job (or two) and taking a full schedule. Most of your friends are probably the sons or daughters of CEOs or bigwigs at some company in the Midwest you never heard of. More than likely, they don’t understand why you “have” to work. I mean who HAS to work?!?!?!?! Crazy concept, I know. And you’re just working so that you can buy books, beer, and some other necessity that starts with a “b”.

Now, I totally agree that your credit score can be a factor in determining your character. However, it sometimes is not realistic. The reality is, not everyone can afford to pay the bills on time, every time. Stuff comes up man! Unfortunately, I’m not head of FICO, so you’re gonna have to deal with the facts.

Many students who are on student loans receive “redemption” by the State (at least in Ohio this is the case), especially if in graduate school. What this means is that the state pays your loan payments as they come due now, and you in turn pay the state later.

This works to the advantage of credit scores, for two reasons.

1) Student loans are usually in large amounts of money, and large amounts of money reflects financial responsibility (even if not the case), and

2) The state isn’t going to miss a payment, so your credit score will be a lot better, and payments will appear as “never missed” for that loan. This is good for those of you who have a terrible credit score, because it makes your score look a hell of a lot better.

You should definitely bring up your poor credit history with your employer at the appropriate time. As soon as you find out the company is performing a credit check, explain to the employer the circumstances of your poor credit score. Tell them what the circumstances are: you were paying for college on your own, and tell them what steps you are taking to improve your credit. Not to be cliche, but when applying for a job, honesty is the best policy.

Sidenote about loans: You can’t get a loan with a prior drug related conviction!! Take care of it with help from one of our affiliates!

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