Advice on credit file and employment - The Bills.com Blog

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Advice on credit file and employment

Question: Hi, My question concerns my personal credit file. My file shows no employment history. I have owned and operated my own business since 1992. I file and have paid all income taxes as required, I am a legitimate tax paying business. Should this be of any concern on my part, as for future loan requests,as in auto or mortgage,and if so what can I do.Or should I leave thingsas they are,I have good credit. I hear some lenders frown on self employment. Thank you for any help on this matter.JP

Answer: I think this is of no great concern. For the most part, employment information can be a basis for being approved for a mortgage (in particular for a debt-to-income or DTI calculation) but is not

usually relevant for your credit score/report.

Employment history is not calculated into the FICO and is there purely for display. I am not aware of any company that would rely on that information without other documents to back it up. I would leave it the way it is. There is no reason for concern or change.

If you would like

to learn more about credit, credit reports, and credit scoring, I encourage you to visit the Bills.com Credit Resources page, available at http://www.bills.com/credit/

I hope this information helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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