obtaining license with poor credit??

**GaryC** · 03-21-2007, 09:21 AM

Good afternoon everyone. I have a question that may seem rather simple to everyone else but I have not been able to find an answer.

I am currently in school to obtain my license. I have a few weeks left.

Does anyone know if having a "less than perfect" credit score has an impact on qualifing for a license??

Thanks in advance for any help.

**stock_post** · 03-21-2007, 11:17 AM

I am not licensed - Just have one to attend - but no time for it.

Did not hear about your credit score, being a point of consideration.

Your criminal recode is however mentioned as a point of attention.

So, I am under the impression, your credit score is not an issue.

Thanks

**GaryC** · 03-21-2007, 11:53 AM

Thanks for your response. I have not heard of your personal credit being an issue when trying to obtain a license either but I've been looking for an answer. I do think you're right but I wanted to be sure before I dish out 1k for school. Its just that I've been turned down for jobs in the past because of a low credit score..(now around 600) so I was wondering if during the investigation that would be checked.

As far as anything else is concerned ..not worried about..I don't have a criminal record..just a few poor financial decisions in my past. Thanks again

**stock_post** · 03-21-2007, 02:39 PM

if you are involved in anything related to financial fraud, that is big no no.

Other than that you are OK.

if you were in a fight with other kids etc is considered acceptable.

They repeatedly said, the big red flag is: Fraud related to money,
Cheating etc.

Don't worry about the low credit score.
You can always call your state Real estate board and they will clarify.

**Merkaba** · 03-22-2007, 04:18 AM

I remember my teacher saying that she had never heard of anyone getting turned away due to credit. And she's been in real estate for thirty or so years and has been teaching the local, and best class in the area. Greenville, South Carolina

**JChristin** · 03-27-2007, 12:00 AM

Several years ago I believe the State of Idaho or Montana obtained credit reports of exam candidates. I could be wrong, my memory could be playing tricks on me...

**OregonLO** · 03-29-2007, 09:00 AM

I THINK they will look at your record...However, if you have a BK or something they may want an explanation. My fiance became and agent and when she got divorced she had to file for BK and she wrote a letter to go along with her credit report. She got screwed over by ex since he racked up over $25,000 in debt under HER name and then basically stuck her with the bill and she wasn't able to pay it.

I really don't think they could decline you for credit reasons. I think that would be discrimation. Having bad credit would have no factor in your ability to be a Real Estate Agent.

However, I have wondered why they even look at it. Especially since on the Mortgage side they do not look at our credit. Which you think if anyone they would look at ours since we're on the FINANCIAL side of things and half of the time I'm coaching and teaching people about credit and how to improve their scores and what effects what....etc.

**chrishummel** · 03-29-2007, 12:08 PM

Every state is different I'm sure but in Michigan your credit score doesn't have an effect on getting a license.

**GaryC** · 03-29-2007, 02:31 PM

Thank you guys very much for your response.

I don't have any sort of criminal record or bankruptcy so that is not an issue. As I said just a few bad financial decisions that have really hurt my credit in the past but I've finally got my score back on the rise. I just thought maybe since we would be dealing with credit sensitive issues that it may play a factor in the investigation.

Since my original post I have finally received an answer from 2 instructors that have said in this state (Texas) as long as you don't have a felony then you have nothing to worry about. Thanks again. This community has been great and I read through it everyday for new info.