| Topic Name: |
Credit History and Employability |
| Message Name: |
You are not alone.... |
| Date Posted: |
06/27/2004 |
| In Reply To: |
Hello everyone, I'm a 36 year old graduate of Columbia Business. I got laid off from my job overseas so I decided to come back here to pursue a career in Investment Management or in the Financial Services sector. (I am a US citizen). Unfortunately, due to the poor economy, I have been unemployed for almost a year now. My problem is that I have about $15,000 in debt which went into collections recently. I incurred a lot of medical and credit card bills several years ago because of an extended hospital stay. When I got laid off, I stopped paying off my bills, and it went into collection. My question is this: Will my bad credit prevent me from getting a decent job in Investment Management or in the Financial Services industry in general? I can't really pay off my debt at all right now because I need all my savings just to live. If I pay off all my debt, I will starve. Also, I can't borrow from any of my relatives to pay off my debt. I'm really in a bind. So it seems that I'm in a Catch-22 situation here -- can't pay off my debt without a job, and can't get a job because of my debt. (1) Is it true that it will be impossible for me to find a job because of my credit history? (2) Any suggestions on what to do to get out of this mess? Thanks, Mike |
| Message: |
Unfortunately the last few years have been awful for laid off employees. Employers are aware of this and you should take the opportunity to inform them before they do the credit check. Trust me, there are people working in these companies that have red spots on their credit history too. Furthermore, you have a plus in that you have history working in another country - use that to your advantage. I'm sure companies like ABNAMRO or Credit Suisse will look upon your experience as favorable. Stay optimistic and keep on keepin' on, because you are not the only one in this situation.
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