Good Credit = Good Career Prospects
There was a time when an employee could start in an entry-level job with a company then, ten years later, work their way up the ranks within the company. In fact, many employers still ask potential candidates where they see themselves in five or ten years; and the expected response is usually something to do with advancement within the company.
The reality of corporate life is that while loyalty will get you far, it may not get you as far as you want to go. If you want to advance your career, you may need to seek your fortunes elsewhere.
If you have a good employment record, you should be able to find a better position quickly. You can even work with a headhunting firm that will discretely conduct a search on your behalf, while you continue to work in your current position.
However, if you have a bad credit record, it could prevent you from getting ahead.
Protecting Yourself
Of course the best way to protect yourself is by staying on top of your credits from the beginning.
- Avoid having too many credit accounts;
- Pay the balance in full each month, and;
- Pay all installment loans on time, or even early.
Unfortunately, there are several factors that could negatively affect your finances.
- An accident or unexpected illness can wipe out your savings and leave you with thousands of dollars of medical debt, which is then reported to the major credit agencies.
- A flood could damage your home, requiring you to spend extra on alternative lodging while you’re still paying your mortgage, causing you to get behind on your bills.
- Your spouse could become unemployed, making it more difficult for you to meet your monthly obligations.
Whatever the cause, if you get behind on your bills, then you need to correct the issue as soon as possible.
One option is to try to negotiate with all of your creditors yourself. In many cases a creditor will be willing to forgive late payment fees, or adjust payment due dates, especially if you have a good track record with them. However, it is just as likely the creditor won’t work with you.
Another option is to work with a debt repair or credit counseling company to negotiate with your creditors. These companies will not only work with credit card providers, but with other creditors like medical providers, to help you manage your debt. These companies have a lot of experience negotiating with creditors and have offices across the country. You can also transfer your case if you move. For example, if you sign on with an organization like in Salt Lake City, and you move to another state, you can continue working with the same one in your new city.
Today’s job market is highly competitive. To get ahead you need more than just a stellar resume, you also need a stellar credit history.
