Yet another reason to order your credit report.Posted by Donna Freedman on Aug 2, 2010 | 5 comments
If there’s even a hint of impending layoffs at your workplace, get a copy of your credit report. That’s the advice of Gail Cunningham, a spokeswoman for the nonprofit National Foundation for Credit Counseling.
Why? Because potential employers may want a look at it. If there are any errors or delinquencies on your report, the time to deal with them is before you need to make a good impression.
You’re permitted one free report every 12 months from each of the three major bureaus. Get them through www.annualcreditreport.com. (Questions? Read “Your Credit Score, Your Money & What’s at Stake: How to Improve the 3-Digit Number that Shapes Your Financial Future” by Liz Pulliam Weston.)
Nobody wants to think about layoffs. But it’s a good idea to be ready for them. Here are a few more NFCC suggestions:
Be indispensable. Don’t sail in late and sneak out early. Make your work outstanding. It’s no guarantee – heaven knows that hard workers are let go every day – but if layoffs do come you may stand out as one of the keepers.
Update your resume. Cunningham says resumes are often scanned for key words, so you’ll want to phrase your skills correctly. For tips, see “How to write a resume (that gets job interviews)” on the Squawkfox PF blog.
Got insurance? Get a check-up. If you’ve been putting off that tooth-cleaning or annual physical, stop dilly-dallying and take advantage of medical coverage while you have it. If you have a spouse or partner with insurance, learn how to get added to that program should it become necessary.
Know your bennies. Your employer may provide placement assistance, retraining and severance. Or it may offer nothing except an escort to the front door. Find out what benefits are offered, so you’ll be ready to roll.
Build that emergency fund. Important when times are ordinary. Vital when you’re unemployed.