Job hunters who have bad credit scores are often worried about whether or not it would affect their chances of getting hired sooner rather than later. Many have already been written about people with bad credit scores not being hired because they are not considered to be financially responsible. This, however, is not true all the time.
Most companies in Toronto do not really check your actual credit score and do not require you to present your credit report. In some cases when they do ask for a credit report, they do so to validate some of the information in the documents you submitted to them or that you revealed to them during your interview. Not a lot of companies make a big fuss about your credit score.
However, there are some positions and companies that specifically have financial soundness as one of their criteria for hiring. This is because they deal with financial transactions and are heavily concerned about trustworthiness and integrity. Finance, accounting, collections, and cashiering are some of the departments where financial soundness is considered to be highly important.
Talking About Your Credit Score
It would be a good idea to know what your credit score is. Even without your credit report, your prospective employer can ask you questions about your credit score during your interview. You can request for a copy of your credit report once every 12 months. You can check what’s included in your credit history and check of erroneous entries. Knowing what’s in your report will allow you to answer confidently if your interviewer decides to get into the subject of your finances.
Answer questions about your credit score and financial activities briefly but truthfully. You do not have to get into all the small details. If you have a bad credit history, you do not need to have a sob story to tell. Your interviewer needs to know what kind of a bind you are in and what you are doing to get out of it.
Fortunately, most companies are more understanding about their applicants’ financial situation. Hiring is still done on a case to case basis, giving the applicants a chance to explain themselves. They might have been laid off from their past jobs and thus did not have the income to meet their payment obligations. The kind of economic crisis that various parts of the world have experienced in the past decade has caused many people to struggle financially. Many have even had to file for bankruptcy. Employers understand that having these on your credit report does not immediately translate to not being trustworthy or to being financially irresponsible.
In conclusion, a few problems with your credit score will not disqualify you from getting a job. Companies have been more accepting of applicants who have a few flaws in their credit history. This gives the person with bad credit a chance to turn things around. With a job that gives them steady income, they will be able to erase their bad credit history and rebuild their credit record.