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I think that it depends on what the job is -- is it a career job or just a job job that you're working during college? How long have you been there? If you're working at a store or a restaurant part time, for example, I would probably find something else and/or quit ASAP -- if you could leave pretty easily without disrupting your career, I'd do it.
I don't know offhand how the grocery store could hurt your credit; it's clearly not your fault that the check bounced.
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