Why do employers check credit history? Employers use credit reports to judge how responsible and financially stable candidates for employment are.
The results of an employment credit check can hinder your chances of getting a job offer if your credit report isn't top notch, especially when the company is hiring for a position in finance.
What do employers look for and what can hinder your chances of getting hired? Take a look at these credit history red flags that could knock you out of contention for a job.
Credit isn't all companies may check. Employment background checks are being conducted by employers more frequently than in the past and some employers will confirm, very thoroughly, every detail of your resume or application. Employers may also require a pre-employment physical examination to determine the suitability of an individual for a job.
Videos: Employer Reference Checks | Employer Credit Checks
Read More: Background Checks | Credit Checks | What Employers Can Say About You
Image Copyright Spectral-Design
70+ Million Americans Suffered “Bad Credit” (Previous to July ’09) long before the full economic collapse – that’s more than 1/3 of the entire population between 20 and 75 years old
379,000 Bankruptcies Filed Q1, 2010, (17 percent increase over Q1, 2009 during a year in a year which they soared upward by 32%)
35% Increase in Foreclosures and a 16% Increase in Foreclosure Notices Q1, 2010 (over Q1, 2009) and 1 in every 4 Homes in America are at least 10+ % “underwater.”
In survey after survey, including a recent MSNBC survey, more than 90 percent of Americans say that workplace discrimination based upon someone’s personal credit report is wrong and should be illegal. ZERO statistical evidence exists to tie bad credit reports to fraud! It’s already illegal in 3 states and HR3149: The Equal Employment for All Act would make it illegal in every state, but most Americans don’t even know the legislation exists. Please support the overwhelming will of the people and the rights of highly qualified American workers to compete on a level playing field during this horrible economic disaster. Join our FB PAG at: http://groups.to/h.r.3149 or shoot us an e-mail at hr3149@hotmail.com with”sign me up” in the subject line.
This is an unlawful, unfair practice and it should be banned asap.
Most people with credit problems are regular people who have had medical problems themselves, their kids, or got laid off in the recession.
This practice doesn’t make any sense and it’s hurting the economy in general.
I agree. It is unlawful and should be stopped. It was never a practice before. But, in 2006 it became a practice. Why? Good ole Bush……again……