[youtube http://www.youtube.com/watch?v=dLXnIwkhGBI&w=560&h=345]

DiceTV: One of the worst consequences of extended joblessness is what happens after you run through your nest egg -- if you were lucky enough to have one. Being upside down on your mortgage will definitely affect your credit rating. But will your credit score affect your ability to land that new job? I’m Cat Miller and this is DiceTV. There’s been a lot of noise lately about the increased use of credit reports in hiring, and how bad credit can scuttle your chances at landing a new job. Don’t despair. The news doesn’t tell the whole story. Research by the Society for Human Resource Management -- known affectionately as "SHERM" by HR geeks -- shows that employer credit checks haven’t increased since 2004, and fewer than 13 percent of companies even bother to check all applicants. You see it’s really all about the circumstances. Hiring managers are a good deal more sympathetic than you may imagine, and unless they’ve been living in a cave lately, they understand that the economy isn’t in the best place right now. Most hiring managers aren’t particularly concerned with your credit issues. Of course it may be different for people in, say, finance or accounting. But if your credit situation is clearly articulated and it's a direct result of being out of work, it shouldn’t matter much during your search. Still biting your nails? "SHERM’s" most recent poll should put your mind at ease. 91% percent of the hiring managers who responded said they only conduct credit checks for jobs with financial or fiduciary responsibilities. Less than half check for senior executive positions. For employers who do look at credit history, 87 percent said they’d allow an applicant to explain the results of their report. So, stop holding your breath every time you send out a resume. If there's something derogatory on your credit report because of unemployment, or circumstances that you can explain, your future boss should be OK with it. Soon, you'll be in a position to boost your credit score and get your personal finances right-side-up again. I'm Cat Miller, this has been DiceTV and we now return you to your regular desktop. See our related story here.