Can Foreclosure affect my ability to get a job?
Going through a foreclosure can have lasting negative effects. While its impact on your credit can affect your ability to take out car loans, mortgages, and credit cards, it also may play a role in a job interview. All employers base their hiring decisions on a variety of criteria, however, a foreclosure filing may appear as a red flag to some employers. A hiring manager could see a foreclosure as a sign of irresponsibility, poor money management, or simply an unnecessary stressor that may detract from the job. Additionally, a foreclosure filing may be of higher concern to employers in some industries or job roles, as compared to others. For example, having a foreclosure on your record may not be a good sign for someone applying to be a CFO or anywhere in the financial or banking industry. Also, any position where the candidate may be handling or making decisions regarding money could concern employers.
Background Check
It’s not uncommon for employers to run a routine background check on all eligible candidates before hiring a new employee. Because background checks can be run to only include certain types of information (i.e. criminal history, etc.) your foreclosure filing may not always appear in every background check. However, because foreclosure filings are public records, if the right background check is performed, your filing is available for employers to find. It depends on the capacity of the background check that your employer opts to run to determine whether your foreclosure filing is discovered.
Credit Check
The one surefire way an employer will discover your foreclosure filing would be if they perform a credit check. Credit checks are not included with all background checks, but may be done in conjunction with one. Because a foreclosure stays on your credit for up to seven years, any credit check done within that time will show the foreclosure filing.
While a foreclosure filing cannot 100% determine whether or not you are qualified, trustworthy, and equipped for the job, if an employer wants to use that information in making their decision, they are able to find it. The best way to combat a foreclosure filing in regards to its effect on your employment is to be up front and be honest. Hiring managers may make an assumption from seeing a foreclosure filing in your public record, but hearing the circumstance that caused the foreclosure from the candidate directly may help them rationalize the situation and be more understanding.
If you are considering foreclosure, or looking for alternatives, contact an experienced foreclosure defense attorney to discuss your options. We will walk you through the options that best suit your specific situation and needs. To reach our office, contact us at (702) 998-1188, info@ljlawlv.com, or by scheduling a consultation online.
For more information on foreclosure, check out our foreclosure defense blog and Foreclosure Defense TV playlist on Youtube.