Negative Credit Can Affect Your Job Search
Below is a MRR and PLR article in category Finance -> subcategory Credit.
How Negative Credit Can Impact Your Job Search
Summary:
Many employers conduct credit checks when considering new hires.The Impact of Bad Credit on Employment
Did you know that negative credit can affect not just your ability to secure loans but also your chances of getting or keeping a job? Employers often review credit reports when making decisions about hiring, promotions, and reassignment.
For years, the military has conducted these checks for personnel requiring security clearances. They investigate backgrounds through local police, the FBI, and financial institutions to avoid granting clearances to individuals with poor credit histories, minimizing risks related to potential security breaches.
In light of recent financial challenges, such as sub-prime lending issues and widespread foreclosures, employers are more vigilant. They want to ensure new employees are reliable and not encumbered by significant debt or defaulted mortgages.
Understanding Your Rights
Under the Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission (FTC) and your state Attorney General, employers must obtain your permission to access your credit report. If you're denied a job based on this report, the employer must provide a copy and explain how to obtain it from the consumer reporting company, free of charge if requested within 60 days.
You're entitled to a free credit report from each of the three major consumer reporting companies?"Equifax, Experian, and TransUnion?"once every 12 months. You can order it through the official Annual Credit Report website, by calling 877-322-8228, or by mailing a request form to the Annual Credit Report Request Service.
Protecting Your Credit
Both the consumer reporting company and the information provider are responsible for correcting any inaccuracies in your credit report. To ensure your rights, contact both parties if you find any errors.
Securing and maintaining employment is challenging enough without the added hurdle of bad credit. Regularly check your credit report to keep it clean and increase your chances of job success. Good luck with your job search!
You can find the original non-AI version of this article here: Negative Credit Can Affect Your Job Search.
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