Six Myths About Using Credit Reports For Employment Screening

Finally we’re getting some factual reporting on the use of credit checks for employee screening.  Erica Sandberg, a Personal Finance Expert / Reporter, wrote an excellent article “6 myths about employer credit checks“.

Here’s a recap:

Myth No. 1: Most employers pull all applicant’s reports.

• Truth: Few do, and usually for specific reasons.

Myth No. 2: Employers and lenders look for the same information.

• Truth: Employers take a longer view on your credit past.

Myth No. 3: Poor credit will immediately disqualify you.

• Truth: Your checkered credit history may be ignored.

Myth No. 4: Employers use credit checks to discriminate.

• Truth: Employers pull reports to protect themselves.

Myth No. 5: All negative information is bad.

• Truth: Some credit report information is more alarming than others.

Myth No. 6: Employers don’t care about your reasons for having bad credit.

• Truth: They care a lot.

Read the entire article here.

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