Tristan Powys (Credit Counselor) @ Lucid Living
Gone are the days where keeping a clean credit report was only to secure your chances of buying a house or car. Now it also influences your career and job prospects. According to Graham Bentley, managing director of Kelly, “companies in certain sectors will not recruit candidates without a clean credit report.”
Five minutes is all it takes to know your credit status and it is a good idea to get the full picture, because your credit report says a lot about who you are.
Not only do financial institutions conduct a thorough check on all individuals applying for a loan, but so too do certain employers.
This means that if your credit report is not clear of blacklisting, you could be jeopardising your chances of securing future loans, and the job you need to meet your repayment responsibilities.
“Companies in certain sectors will not recruit any candidate without a clean credit report. And while this fact provides consumers with peace of mind, it can make the job market a challenging place for those who haven’t managed their credit effectively”, explains Bentley.
It goes without saying that this is not a comfortable place to be, which is why the management of your credit report is so important.
A good place to start is to check your credit report, to get a holistic idea of where you stand. Do this now with LUCID’s instant, online credit report.
If you have a good credit report it’s important to protect this status by managing your repayment obligations diligently.
If a problem arises it is advisable to make contact with the relevant institution as soon as possible to negotiate lower repayment terms.
“It’s important to note that if a payment is late or missed, this is reported to the credit bureau tarnishing your financial reputation and impacting negatively on future loan and job applications,” adds Bentley.
“If you are already mired in debt, all is not lost and you can work your way out of the debt trap,” says Bentley. “If you have a judgement against your name, the judgement can be rescinded once the creditor has been settled. If you are blacklisted for an outstanding debt, contact a litigation attorney to negotiate settlement with the creditor and instruct the credit bureaus to remove the blacklisting.”
LUCID’s attorneys can negotiate settlements with your creditors, rescind judgments and clear blacklisting. Contact them today on 010 590 5617 – don’t let blacklisting cost you that promotion or new job!