The job applicant’s death spiral.

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How your credit can get you hired, fired, and even stop a promotion. Part iii of iv: The job applicant’s death spiral.

It starts with someone who is unemployed and searching for a job. Then, one of the two following factors is needed to create a job applicant’s death spiral:

1) Your credit is negatively affected by errors or identity theft; or,

2) You have used up your savings and can’t pay your bills on time, negatively affecting your credit.

We have learned that almost 50% of employers are checking your credit report and that bad credit can derail a job or promotion.

This combination of factors is a perfect storm and happens more often than you imagine.  It is very difficult to recover from this downward spiral.  It may mean long term financial stress and lower paying jobs.  Time is the problem in most cases.  You need the job quickly; however, it will take some time to correct the problems on your credit report.

The job applicant’s death spiral is even more frustrating if you feel your credit should not matter to a potential employer especially if you have the talent, education and experience for the job.  Also, consider that explaining you’re the victim of Identity Theft may not be persuasive to an employer.

How do you recover from a job applicant’s death spiral?

Use SmartCredit.com and its state of the art identity and credit protection.  It will help prevent Identity Theft.  If you are a victim of Identity Theft, use our Smart Action buttons to get rid of it.  You should know that Identity Theft is the most reported crime to the Federal Trade Commission for the last several years.  It’s a huge problem.  In fact, over 9mm people in the United States alone are victims every year.

Also, be proactive!  Make sure your credit is the best it should be using our Smart Action buttons to fix errors, get goodwill corrections of negatives and settle debts.  It works fast and is very effective.

Coming soon:

Part iv – Getting fired because your credit changes during employment.

David B. Coulter – founder and C.E.O. of Smart Credit