Credit Check

[brannon]

My wife and I are in the mortgage industry and are both being laid off. She has found other employment, however, at less pay. I will be leaving my management position and going back into the direct sales side, with a substantial pay cut until I build a pipeline. It is going to take some time to build a pipeline and back to earning good money again. As a result of these recent events, I will have to short sale my home. This may put my credit in the dumps for a while.

 

We will soon be living rent free at a property my father owns. On the positive side, this will allow me to begin saving for flight school. My question is, do the companies in the GOM check credit history? As it will probably be about 3-4 years until I will be employable in the GOM, my credit may still be derogatory.

[helonorth]

I'm pretty sure a consent for a credit check was in the reams of paperwork I filled out

and signed. They also do a pretty extensive background check. I don't think so-so credit

would hurt much. Don't get any DUI's or FAA violations, though. Interestingly enough,

an accident doesn't seem to be a big deal. I know two guys that destroyed helicopters

while instructing and got hired at or close to a 1000 hours. Maybe instead of socking

away everything for flight school, keep up on the bills, too?

[brannon]

I'm pretty sure a consent for a credit check was in the reams of paperwork I filled out

and signed. They also do a pretty extensive background check. I don't think so-so credit

would hurt much. Don't get any DUI's or FAA violations, though. Interestingly enough,

an accident doesn't seem to be a big deal. I know two guys that destroyed helicopters

while instructing and got hired at or close to a 1000 hours. Maybe instead of socking

away everything for flight school, keep up on the bills, too?

 

Thanks for the reply. You were helpful on my other post as well. Looks like so-so credit may have to be the case. I've worked in the finance industry for the last 13 years and I've seen people recover from a short sale or foreclosure in as little as three years. I know how to repair credit fairly quickly, but I am counting on the unknown.

 

Your advice to pay bills instead of socking away money would be great; if I had that option. I've held out as long as I could. I've gone through considerable liquid assets over the last year and a half to keep my house and everything up to date. Unfortunately, due to the industry I'm in, I will not be able match my previous income for probably another 6 months or more.

 

Again, thanks for your help and advice.

 

Brannon