Credit River,MN (WiredPRNews.com)
Employers now checking your credit report ! by: Author Michael Malloy
Employers Now Checking Credit Scores Of Applicants Job Seeker Beware: You could have your credit pulled at any time!
Yes, it is very true that more and more today’s employers go for the credit report to make a decision on whether or not they will hire you. Therefore, if your credit report has problems, you better think about ways to fix it because the chances of it being reviewed by the companies you want to work for are high. Employers have targeted and even fired current employees because of a bad credit report. There have also been cases where workers were turned down for a promotion or transferred because of their credit, and high level security clearance jobs in the government and military can be taken away because of an employee’s poor credit rating. What can job seekers do to fix their scores so this won’t happen to them?
The Credit Physician, an expert in credit consulting and repair, suggests that job seekers should always prepare themselves for the future and look at their credit report once a month and also use a credit monitoring service to alert them to possible hazards or fraud attempts on their credit.
“If you keep your eyes on your report, you’re already 99 percent ahead of everyone else.”
The Credit Physician
Quick checklist for fireproofing your credit report:
Review your credit report and dispute or correct any errors.
Make sure all of your personal information is correct.
Look at your credit report every month.
Don’t attempt to handle big problems on your own – consult a professional.
Maintaining your credit report is an ongoing project – never stop working on it.
One important concept to remember is that your credit has two words – your creditor’s perspective (the people you owe money to) and your report’s reflection of your ability to pay your bills. You can still be paying all of your current bills on time and still have an unpleasant credit report.
One question that job seekers ask is how will their credit score hold up if a potential employer asks to take a look? Many job candidates view applying for a job much like applying for a loan, and jobseeker Sandra Bernke doesn’t like it.
“I don’t think a credit score has anything to do with your qualifications to perform a job and how well you do it,” Bernke said.
But a growing number of job seekers are finding out potential employers are increasingly likely to check applicants’ credit scores before hiring. “I think what they’re trying to do is see how responsible of a person you are, although it’s not the ultimate reason on whether or not they’re going to hire someone. It’s another bullet in the gun if you will,” said Richard Greenwald of the Concorde Staffing Group.
One recent survey shows that 47 percent of employers run checks on select job candidates, and 13 percent run checks on all candidates. It’s not just private employers running credit checks on potential employees – the federal government is doing it as well. The Transportation Security Administration rejects about 20 percent of airport screener applicants because of red flags on their credit reports. Job experts such as The Credit Physician say that you should be honest about these alerts on your credit report, and be prepared to explain them.
New York State Assemblywoman Ellen Jaffee said it can be a catch 22 for those looking for work to improve their finances. “Here you are in a situation seeking a job to be able to respond to financial issues, and suddenly they’re saying your credit doesn’t work for us. Goodbye,” said Jaffee, D-Rockland County. She supports a bill to limit the use of credit report checking to jobs that require handling large sums of money or access to sensitive data.
Default Author Bio
Written by: Michael Malloy ( The Credit Physician ) This author has been researching the anatomy of the credit report for years,giveing readers the information to empower them to take control of there credit reports.