Credit check for employment?

[whathaveidone00]

So I want to preface this by saying that I am a little embarrassed to admit this and I have learned my lesson regarding credit cards (probably won't ever have one again after all of this is over)

I'm starting my D3 year and have progressively gotten myself more and more into a financial bind. I have no financial support from my family and was careless with my credit cards leading to me maxing them all out. I can't make the payments on them anymore as my loans don't cover my living expenses and the outrageous minimums (+interest). My only option (I think) as of now is to stop paying them and let them go to collections. I understand that this is far from ideal and will have consequences in the future.

Has anyone heard of dentists being required to pass a credit check for employment (corporate or otherwise)?

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[Saddleshoes]

Has anyone heard of dentists being required to pass a credit check for employment (corporate or otherwise)?

YES!!!
As well as a credit check for medical insurance and malpractice insurance and car insurance. You will be asked to pay a higher rate for insurance as a result of your poor credit report.

It is fair? NO! But that's the way the system works.

 

[redhotchiligochu]

I also want to add that credit score history stays on your record for 7 years.

If you’ve maxed out your cc and have no other income source as a student, I would let it go to collections—there’s no point in fighting a 16% APR with you being a student, but it can be resolved once you have a steady source of income.

I’m not a fan of Dave Ramsey myself, as he injects too much of his own religious beliefs and makes a broad assumption that “all debt is bad,” but I’d definitely give him a listen, especially regarding his “baby steps” and his ways to become debt-free

 

[setdoc7]

Letting debt go to collection may not be the way out. The interst rate goes sky high on delinquent CC debt, and will not go away because you have stopped paying. Speak to a financial advisor, credit couselor, or lawyer. You may want to wipe out your debt and start fresh. Of course, you may need to wait until you secure tuition for D4.

 

[Cold Front]

If you’ve maxed out your cc and have no other income source as a student, I would let it go to collections—there’s no point in fighting a 16% APR with you being a student, but it can be resolved once you have a steady source of income.

I agree with this under the circumstances.

If you are still in school and have 16% APR on “unsecured credit card” - I would let it go to collections. Why? Because if the CC debt is not secured by anything (other assets; like a collateral), it will drop off from your credit report after 7 years - by law. If it’s still on your credit report beyond 7 years, you can dispute it and it will be gone and deleted in 30 days, then your credit score will shoot up again.

The exception to this is - unless you will buy a home or finance a car or open a practice next 7 years, a bad credit score will not effect your employment or having a non-credit based normal life.