Why not put some responsibility on jobs and company's for your credit problems?

Question

I have worked for many companys and for one reason or another they lose contracts or the economy goes bad or the company cuts your position and now your left holding the bag when it comes to keeping the payments up on just the little things like your cheap home payment and car payment and electric and gas and insurance! Why is it that if you have a history of making your payments and your company goes defunct for some reason or another that you can't put most of your bad credit problems on them? Why should it be listed on your credit history as your fault? Lets face it, you also may have been in this circumstance yourself and wondered the same thing and I think its about time that your company should take some of the blame if it wasn't your fault! This would give you the chance to clear up your credit history faster and not be held aginst you as much as it is now! Also if you rent and your rent goes up and your income dosen't it shouldn't be held aginst you either! And justice for all!

Answer 1

So once again it's someone else's fault that you did not plan ahead and have 3-months worth of living expenses saved up just in case this happened.

If people want to see who is responsible for the problems in their lives, all they have to do is look in the mirror.

Quit trying to blame others for your shortfalls and take responsibility for your own actions or lack there of.

Answer 2

Unfortunately, most people are "at-will" employee's and run the risk of the economy both within their employ or outside in the real world.  It has been said that it is up to the individual to have at least a 3 month's worth of funds to cover their expenses...so, as much as I see your point....one question posed here alone will not solve this dilemma!  Best of Luck to you!

Answer 3

Because it's your responsiblity to save some money in case you find yourself unemployed, so you can live up to the financial commitments that you made. (Your company did not make these commitments - you did.) If you have a job and can't save money, then you need to change how you live until you can. Get a roommate, drop the premium cable channels, go out less, etc. - there is usually some way to cut expenses. The company is not your parents, and it's not the company's responsiblity to take care of you.

If you do have a good credit history and lose your job unexpectedly, most companies will work with you on payment terms if you call them and explain. And it won't always hurt your credit rating. Good luck.

Answer 4

It isn't the company's fault if you don't have an emergency savings account and if you don't go get another job before you default on your obligations.  Take some responsibility for yourself.

Answer 5

You shouldn't be so in debt that a change in jobs effects your credit..

You over borrowed and undersaved..

You should always have enough in savings, to live for three months (minimum) without working......

Answer 6

You must be a Democrat.  Let everyone else handle your problems.