Your credit report and background check can play a big part in getting a new 6 figure job these days. More companies than ever are requiring credit reports in addition to background checks before they will hire you and not just for 6 figure jobs in the financial sector. This is not only because it shows whether you have been successful in managing your own finances but are in a stable situation where you will not be tempted to handle company funds inappropriately or take bribes to share company secrets. Make sure you get a copy of your credit report before applying for new 6 figure jobs and make sure there is no erroneous information on it that could hurt your application.
Don’t be too overly concerned if you have had a couple bruises on your credit in the past. Certainly the recent economic downturn affected many who have normally always been ahead on their bills. If you have on or two bad items and you know your credit will be checked when applying for a 6 figure job make sure you write an explanation letter detailing how it was a one off occurrence. There is obviously a big difference in candidates who have never been financially responsible or paid anyone on time and those who have just been hurt by rare circumstances.
However if you are applying for a new 6 figure job and you have several items on your credit report that are incorrect or reflect negatively on you try to get them fixed as soon as possible. When having your credit pulled to qualify for a 6 figure job items like collections and charge offs will not look good. If they are small and over two years old they really won’t affect your credit score much, but if they are larger or more recent they should definitely be addressed to paint you in the best light and give you the best shot at your new 6 figure job. Normally creditors will be happy just to get something on these accounts and negotiating a pay off of 30-50 cents on the dollar is relatively easy with just one phone call in most cases.
Erroneous items that are blatantly incorrect which unfortunately can occur quite often are also normally easy to fix before your prospective employer checks your credit as part of your 6 figure job application. Start by calling the credit bureau who is reporting the item and dispute it. They will then try to verify it with the actual creditor or ask you to provide documentation to show it was paid on time. This is normally simple enough to solve yourself. Steer away from credit repair companies as they normally charge high fees and get very little results. If you really have something important that needs to be fixed before you can be confident your credit report will not turn off potential 6 figure job employers ask your attorney if they can help.
Tim Houghten has been a business owner, HR specialist and executive recruiter for over ten years and now as a consultant and freelancer writer he writes forÂ The Career Advice Column where executives come for job search advice and to find the best sources for $100k plus jobs.