| With unemployment rates in America hitting a high of | | | | for companies to run your credit & background |
| almost 10 percent in December 2009, the number of | | | | check. Let them know straight away what they're |
| applications being received per position is skyrocketing. | | | | going to find. Any legitimate employer will tell you up |
| Couple the unemployment rate with the increasing | | | | front whether your infractions are going to cost you |
| popularity of employers running credit & | | | | the position. Additionally, it demonstrates your desire to |
| background checks on potential employees and the | | | | be honest with your potential employer. It also affords |
| situation is creating a Catch-22 for many job seekers. | | | | you the opportunity to explain yourself in a manner |
| This is because your credit profile may be suffering | | | | that abbreviations and codes on your credit reports |
| because you lost your job and as a result you have | | | | won't do. |
| gotten behind with your bills and allowed an increasing | | | | What Type of Work is it? |
| amount of debt to be run up; the predicament is that | | | | Are you tens of thousands of dollars in debt & |
| those same actions may currently be keeping you | | | | collections and applying for a bank teller position? Many |
| from landing a job with prospective companies. Many | | | | of the positions that require a credit check are |
| job hunters are unsure whether bankruptcy, credit | | | | positions that entail the employee handling money |
| repair services, or simply applying to a myriad of | | | | frequently. Whether it is appropriate or not, employers |
| positions in the hopes that there is no credit check is | | | | are obviously going to view you as a potential risk. |
| their best alternative. | | | | Though more and more employers are running credit |
| Even lawmakers are taking notice of the situation. In | | | | checks recently, the bulk of them are financial |
| July of 2009, H.R. 3149 was introduced by | | | | institutions, the government, and companies dealing in |
| Representative Steve Cohen of Tennessee. The bill | | | | large amounts of cash or products. |
| would make it illegal for prospective and current | | | | Can Bankruptcy or Credit Repair Services Help? |
| employers to make "adverse decisions" based on | | | | Yes and no. If you need the issue resolved before a |
| credit checks. Even if this does eventually manage to | | | | prospective employer pulls your credit in the next few |
| run the gauntlet of Congress to become law, it still | | | | days, then neither of these solutions is going to help |
| doesn't help Americans who are looking for jobs | | | | you get that job in that timeframe. Both bankruptcy |
| today. | | | | and credit repair services are time consuming |
| So where does that leave the considerable number of | | | | processes that need to be looked at long before they |
| job seekers who currently face this predicament? | | | | can be properly implemented. |
| Well, there is very little that people can do to change | | | | While there are laws to prevent discrimination against |
| their credit profiles over short periods of time. So in | | | | those with a bankruptcy on their credit reports, the |
| reality you need to understand the financial choices | | | | same cannot be said if you are simply in debt. Again, |
| that you've made and demonstrate to potential | | | | this is another Catch-22 since bankruptcy will generally |
| employers that your credit reports do not define you. | | | | ruin a credit profile for a minimum of 2 years, affecting |
| There are a couple of steps that should help if you are | | | | the score for longer as it remains on the report for up |
| one of the many in this exact situation. | | | | to 10 years; but at the same time there are no laws |
| Know What's on Your Credit Reports. | | | | against discriminating against those in need of just |
| Job seekers can't defend their financial history if they | | | | some simple credit repair, which can take anywhere |
| are unaware of what their credit reports are saying to | | | | from 3 to 12 months to have properly done while |
| employers. Credit reports are free every 12 months | | | | leaving your credit score intact. |
| from each of the three major credit bureaus - | | | | Remain Confident. |
| Experian, Equifax and TransUnion. They will not show | | | | Unless they've lived under a rock for the past few |
| you a credit score, but they do list your entire credit | | | | years, everyone is aware of the state of our |
| profile over the last 10 years exactly as employers will | | | | economy, and accordingly, the state of individual's |
| see it. | | | | finances. Perhaps you ran up a bit too much debt, |
| As a job seeker you need to be prepared to answer | | | | perhaps you got a bit behind on some of your bill; so |
| any questions, this includes questions about your | | | | what? It's likely that you're not exactly in the best |
| financial history as well as your work history. If you | | | | position to bring everything current if you're out there |
| seem hesitant or confused in your knowledge of your | | | | looking for a job. Employers do understand. So, the |
| own finances the hiring employer is going to question | | | | better prepared you are to discuss with them your |
| your reliability and your honesty. | | | | individual situation, and your strategy to get your |
| Be Honest with Potential Employers. | | | | finances back on track, the better shot you have over |
| Once you've analyzed your reports and see what | | | | another applicant who comes across as just numbers |
| derogatory items are on there, you may be able to | | | | and codes listed on a credit report. |
| save yourself the time and stress involved with waiting | | | | |