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A poor credit score or history is a disqualifier for a great many jobs, as Nlambert alluded to above, including any role where you will have access to financial information, cash etc.
The reality is that poor credit scores often correlate to a person who might have poor work habits, performance and personal issues that get in the way of them doing their job. Companies know this and that's why they use this to screen people out.
OTOH, one of the major reasons people have low credit scores is that they lack a sufficient credit history, which certainly could be the case for a young person who has never purchased an asset before. It's an irony that in order to *increase* your credit score, you have to secure a certain amount of debt (then prove you can pay it back).
What was Bob McDonnell's credit like when he was sworn in? Nixon?
Better yet, what was Robert Hanssen's credit like when he was sworn in at the Federal Bureau of Investigation?
I believe in this case YOUR credit history is the only one that matters.
Run a report from all 3 credit bureaus and see exactly what is on it, there may be fraud that you are unaware of that needs to be dealt with immediately.
You yourself may not have purchased anything but someone else using your name could have or it could be someone else's files under your name because of a human typographical error.
I just received an email from a recruiter that I've been trashed from prescreening for a federal position because of "the amount of bad debt" in my credit report. Student loans are bad debts now??? I never bought a car, never bought a house, never been on vacations, never had a judgment, never filed for bankruptcy, never was evicted, and all of my federal student loans are in good standing.
Have good standing student loan debt is not "bad debt".
Quote:
Originally Posted by Yiuppy
This is a joke and no wonder the government is so inefficient. They're hiring people based on completely superficial reasons who don't care about the job, and are non-thinking paper pushers, and not hiring skilled people merely because they're in debt for investing in their college education. Wow. I'm not even going to try applying for any government jobs anymore, not even state. This is absurd and unfair. Why are they even advertising that they're not hiring if they aren't hiring anyone who actually needs the job to pay the debts? Why are they even at job fairs in DC, knowing damn well most of the people who show up have less than stellar credit ratings? Why pretend to be hiring people? Oh yeah they're only hiring people who don't need a job anyway.
Your getting denied had nothing to do with you having student loans; numerous people work for the fed gov and have student loans, a lot of which are rather large; having a debt, even a lot of debt, is not having "bad debt", the only bad debt is if you are not paying on them, have numerous late payments, etc.
Definitely check your credit and make sure there's no errors, and that they pulled the correct report. I had an issue recently where a collection agency was attempting to claim a 'debt' from me, however I'd never been associated with the company they claimed I owed the debt to, and do not have any debts at all. It wasn't even in my state! I ignored it because I assumed it was one of those fake collection agencies trying to scam people into sending them money. Fast forward, it turns out they were a legitimate agency, but they had the wrong person. Someone with (I'm assuming) my same name in another state owed the debt. Obviously the problem was solved and it never made it to my credit report (because I didn't owe them anything), but I've heard stupid mistakes like that happen all the time. If your loans are in good standing and not a crazy astronomical amount, they should not be considered bad debt. In my understanding, bad debt is only debt that has been defaulted on, paid laid etc so if you're sure that's not the case, definitely get in touch with the credit bureaus and find out exactly what's in the report. There could be a mix up with someone who has a similar name or ssn, or even fraudulent activity you don't know about...
I just received an email from a recruiter that I've been trashed from prescreening for a federal position because of "the amount of bad debt" in my credit report.
That doesn't sound right... in multiple ways. Are you one of those people who has a huge SL amount in deferment that will come down like a ton of bricks on you when it's time to pay? Because otherwise, I don't get it. Federal employers will see the run of the mill SL burden as a dime a dozen - the prospect of debt forgiveness attracts many to the public sector. Also, while I doubt "bad debt" was what they said verbatim, in this context, that would imply unpaid balances. They don't care if your debt is backed by assets or not, and student loans are seen as backed by the government anyway. I would implore you to pull your credit report... there may have been an error on it that you can have fixed.
A poor credit score or history is a disqualifier for a great many jobs, as Nlambert alluded to above, including any role where you will have access to financial information, cash etc.
The reality is that poor credit scores often correlate to a person who might have poor work habits, performance and personal issues that get in the way of them doing their job. Companies know this and that's why they use this to screen people out.
OTOH, one of the major reasons people have low credit scores is that they lack a sufficient credit history, which certainly could be the case for a young person who has never purchased an asset before. It's an irony that in order to *increase* your credit score, you have to secure a certain amount of debt (then prove you can pay it back).
Here we go again. I challenge you Texas, to demonstrate this correlation to me. I have challenged several posters who have stated the exact same premise: that people with bad debt/bad credit are more likely to steal/be a bad employee/be irresponsible on the job, blah, blah, blah. So far not a one has been able to show me this conclusively. I say companies just do this to discriminate against people with bad credit, the people who need jobs the most.
Here we go again. I challenge you Texas, to demonstrate this correlation to me. I have challenged several posters who have stated the exact same premise: that people with bad debt/bad credit are more likely to steal/be a bad employee/be irresponsible on the job, blah, blah, blah. So far not a one has been able to show me this conclusively. I say companies just do this to discriminate against people with bad credit, the people who need jobs the most.
No, but in this case at least, the OP has never held a job for longer than a few months, is currently homeless, and at one point owed $100,000 in student loans without a degree.
If I recall, you had some outstanding bad debt from failure to repay student loans, correct? If so, a govt or govt contractor position which requires any level of clearance may be out of the question for you unfortunately. In the list of things that can get our clearance pulled, bankruptcy or excessive delinquent debt is one of the first things listed.
There are a couple of reasons, but the major one is the concern that you could sell national security secrets to foreign agencies since you are in financial hardships.
So if you BK, your debt goes away (except for student loans at least), then can you get clearance?
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