Expert: Loren Stevens - 10/25/2005

Question
Hey,

I have a quick question about the credit check:

I don't have anything major like a Bankruptcy, Judgement or Repo.  I do have a couple of charged-off accounts that I am disputing.  I have 2 accounts that are in collections b/c i am still negotiating a settlement.  (all revolving credit accounts with the highest balance by far being 1000 dollars) .  I also have had an auto account in the past that was in good standing as well as 4 other revolving accounts that are also in good standing.

What say you about my 'credit' situation as it relates to the selection process?  What are they looking for?  You know as much about my credit as they will.  My friend (a police officer in the Charlotte-Mecklenburg PD) says that I should go ahead with my application and "don't worry about it" because he said he had less than perfect credit when he was hired.

What do you think i should do?...should i worry?...or should i relax?

Thank you for taking your time to answer my questions...you are very helpful.

Chris

Answer
Chris,
To "relax" is an option of value. To "worry" serves no utility.
I don't see a herculean problem with your credit issues, as you've described them. The personnel director may have some questions though. I'd be prepared to respond to those matters in a clear and convincing manner.
What agencies usually look for, is applicants not being fiscally responsible with their personal business.
They also look for any pattern of financial problems. The reason(s) they tend to get nervous, includes: illustrates poor judgement, and corruption potential, along with possibility of embarrassment to the agency if your debts become public, splashing on the department.
A person is a favorable target for compromise if they are over burdened with debt. Espicially avoidable debt, or stupid spending habits.
Hope this is helpful.
loren