Many employers and prospective employers routinely check credit reports to assess a candidate’s financial honesty and personal integrity. A candidate would be considered a poor security risk, if they are carrying a high debt ratio. This could be an indicator of a lifestyle beyond their means reflecting a poor security risk. This is not the only negative data that might jeopardize your career prospects.
If a decision was based on incorrect information on your credit report, which it could take months to correct, it is quite possible by that time someone else will have been hired for the position.
A candidate’s financial integrity is particularly import in the following industries:
- Defense
- Chemical
- Pharmaceutical
- Finance
An employer needs your permission to run a credit check.
While other black marks can be used against you, technically a bankruptcy cannot.
An employer is supposed to tell you if credit information is used against you.
Federal law allows employers and prospective employers to access a special version of your credit report for employment purposes, only.
Employment Credit Reports show:
- Personal Loans
- Home Equity Loans
- Consolidation Loans
- Car Loans
- Lines of Credit
- Credit Cards
- Term Loans
- Secured Loans (Private if registered)
- Judgments
- Paid or Unpaid Collections
Employment Credit Reports DO NOT show:
- The actual account numbers for the types of credit listed above
- Spousal Information
It is advisable to periodical check your credit reports and correct any serious errors you might find.
Order your Free Credit Reports from: annualcreditreport.com , you have to pay to obtain your credit scores.
Also see:
COMPLETE CREDIT GUIDE – INSIDER INFORMATION
Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?
Call: 303-997-3375
E-mail me: cristina@cristinascreditsense.com