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I feel betrayed. Kab Hua Meeting😑😶🥹
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How are you celebrating 4th of July?
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Numerous states ban employers from using applicants’ credit history when making hiring decisions.
Rising Star
My BigLaw firm did…
That is extremely common. As long as your student loans are in good standing it won't make a difference if you have them. If they aren't in good standing, that could be a potential problem.
Rising Star
Very common. I think they see loans as a benefit because you need the money 😂. As long as you have a decent credit score (675+), I wouldn’t give it a second thought.
Rising Star
Agree. I don’t think debt is an issue—it’s more the idea that you didn’t pay debts when due or took on a debt to credit ratio that suggests a lack of responsibility. But I would still apply and wait for them to raise the issue. I think it’s really unlikely to be an issue.
I understand the need for a company to investigate an attorney’s ability to handle finances wisely especially when dealing with a client’s financial affairs.
The concern I have is that life happens! Most of us cannot control third party behavior. For example, some in the financial world knew in advance that the markets would likely tumble in 2008 (that’s a fact - but I will not detail how I know that here). Many lawyers suffered as a result. Others suffered recently from the turmoil created by the COVID pandemic. Some even had their financial portfolios go into a financial decline due to unexpected family illness and death.
Recovery can be slow. Yet, because the attorney candidate is gradually building back financially, none of their legal experience matters once a low credit score is discovered. And because the hiring partner or manager does not take the time to inquire further, an offer is not extended. Yes, I understand that time is money, but this is troubling to me!
While financial checks are common for sensitive finance roles, they are less frequent for other attorney positions. Generally, the concern is not **excessive student debt** but rather **bankruptcy** or a **poor debt repayment history**. If you have good repayment habits, your chances of getting the job are not low despite having student loans.