How important is credit hisotry when applying to residency?

[Dreammona]

Hi guys,

I am in a bind here due to the bad housing market and being in med school at the same time. I might have to file for the big B. Question is: can credit hinder your acceptance into a residency? Do they take that as a toll on your personal traits? From my experience, I hear many docs had to file for bankrupcy, so how does that affect them afterwards for jobs?

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[SocialistMD]

Hi guys,

I am in a bind here due to the bad housing market and being in med school at the same time. I might have to file for the big B. Question is: can credit hinder your acceptance into a residency? Do they take that as a toll on your personal traits? From my experience, I hear many docs had to file for bankrupcy, so how does that affect them afterwards for jobs?

I don't recall that information being asked on my residency application.

 

[voltron77]

Hi guys,

I am in a bind here due to the bad housing market and being in med school at the same time. I might have to file for the big B. Question is: can credit hinder your acceptance into a residency? Do they take that as a toll on your personal traits? From my experience, I hear many docs had to file for bankrupcy, so how does that affect them afterwards for jobs?

From what I remember, there were no questions regarding credit history on the ERAS application. It would be an issue when you are applying for residency relocation loans from lenders.

 

[drtx]

yeah....maybe? About a year ago, I had purchased this credit protection program and was going through my recent credit inquiries. And there it was...3 freakin' credit inquiries from the hospital I worked for during the first 2 years of residency. This sort of had me scratching my head wondering how and why that was so... Anybody else know about this kinda thing?

So, I don't think it will affect your matching abilities but I can't explain why these inquiries were on there.

 

[NotAProgDirector]

Employers are allowed to do credit checks on their potential hires, and then use the information in those credit reports for employment decisions. Theoretically, a poor credit history could represent unreliability or some other negative trait. Employers must have your written consent to do so.

It's unlikely this will have much of an effect on your match. It would be crazy to do a credit / background check on everyone interviewed. Instead, I wouldn't be surprised if programs now are doing background checks once match results are in. Part of the background check will be a credit check, but programs are looking for bigger problems than this.