Christians Need Credit Repair 2 (ePub)

How Does Your Credit Affect You Getting a Husband or Wife?

A couple came to me who wanted to buy a house. The man said that his credit was over 700, while the fiancée said her credit was 700 also, however, after pulling the credit report the women was below 600. The man was very upset and left the woman there with me. When I saw the woman 2 years later, she stated that she never saw the man again. This is an example of how your credit can affect you getting married.

The Fed recently looked at the correlation between credit scores and relationship duration, in a working paper entitled "Credit Scores and Committed Relationships" by researchers Jane Dokko, Geng Li and Jessica Hayes (1.usa.gov/1PC9Ken). It uncovered some fascinating tidbits.

In many instances, your credit scores connect you with being in a committed relationship and staying together. In serious relationships, couples have a desire for their partners to have credit equal to or better than their own.

If one person has a low credit score, it could be a sign of poor judgment and trustworthiness which can cause conflict and disharmony in the relationship.

In some cases, poor credit scores are not always preventable but it is your responsibility. For instance, you are accustomed to having two incomes; however, one person could have been laid off work or maybe deceased or divorced. In situations like this communication is important. If you are unable to continue your obligations as scheduled, you must make arrangements with your creditors to ensure your credit score is not affected.

Why Do Some Employers Check Your Credit History?

You should know why a prospective employer might check your credit history. And if they do check it, what kind of details can they view?

Your credit determines if you will get a job or a promotion. I have worked with men and women in the military who must repair their credit in order to get their military clearance for a higher position. These men and women are already performing jobs but are not getting the pay for that rank.

A 2012 study from the Society for Human Resource Management (SHRM) found that 47 percent of U.S. companies conduct credit background checks. Employers check your credit for the negative mark or to see if you are

in extreme debt, which could indicate your lack of financial responsibility. They want to know if you are trustworthy and have met your obligations to your debtors. If you are handling money or responsible for money in any position, there is a possibility of stealing or embezzling funds.

Good credit has it benefits in looking for a job. If you and another applicant have equal skills and experience, but your credit looks better than theirs this may be the determining factor as to whether you get the job. Your credit stays within your employee file for future references, so when you go for an evaluation or raise your credit report can be used to compare to your present credit report to determine your worth.