Maintaining a Good Credit History After You Lose Your Job

Posted by: Sally S. | Dec 30,2007

If you lose your job it’s more important than ever to make sure your credit history is in good standing. If you get fired or laid off, take a look at your expenses and see where you can cut corners. It’s critical that you keep paying your loans and credit card bills on time, so you don’t cause any long-term damage to your credit report.

 

If you have a poor credit history, it can be hard to find a new job. More and more employers will run credit reports on prospective employees. If you have black marks on your credit report, it might mean that you won’t get the job.

 

If you’ve been interviewing for a job that you really want, and you know they are going to run your credit report, you may just want to fess up to the hiring manager. Admitting that your credit history has taken a hit since you lost your job is not the worst thing in the world. Emphasize to the employer that your credit history as a whole is in good shape and hope for the best.

 

Stay in contact with your creditors to let them know that you are working hard to stay on top of your bills. Don’t be afraid to ask your creditors for some leniency when it comes to late fees. And when you get your new job, immediately start working to pay down the debts you accumulated while you were unemployed.

 

If you’re in a pinch, a short-term loan can help. Compare and apply for emergency loans at LowerMyBills.com.

 

 

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