St. Louis Refinancing Group Credit Tip:
The economy seems to be at an undesirable halt. What makes matters worse is that thousands in St. Louis have lost their jobs due to this economical setback. As a result, those who are now unemployed have had little or no income coming and are falling behind on their home mortgage, car payment and credit card payments.
And if all that tension weren’t enough, when it comes time to finding new employment, your new job may not come through as quickly as you originally anticipated. In today’s world, credit checks are usually part of the employment process and if derogatory information or “bad credit” is found on your credit report, this may have a negative impact on future employment.
Here’s some timely advice. When applying for a new position, find out if the employer performs a credit check prior to hiring. They must inform you of this due to credit laws in place to protect you.
If they do intend on checking your credit report, have an explanation for your financial situation in place always being honest with your potential new employer. Help them to understand that you are attempting to rectify this situation as quickly as possible.
The best remedy for preventing this type of financial hardship is to have an “emergency savings” in place before an economic disaster takes place. Then if you lose your current employment, you can continue to pay your home mortgage and high interest credit cards. In this way, the frustation you feel due to being unemployed will not be compounded by the pressures of surmounting debts knocking at your door.
- by Floyd J. Tapia, Financial Author and Syndicated Columnist
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Tags: bad credit, st louis home mortgage, st louis refinance, st louis refinancing
