Job Interview and Credit Checks?

Add another personal variable to the job screening process everyone. Evidently the growing trend of credit checks as part of the job placement process continues. While on some levels I can see a partial parallel, I do have my mixed feelings on this one.

First let me start with some of what may kind of make some sense - to me anyway. Let's say I am a hiring manager screening an applicant applying for a position with a pay scale of $55-60K. Now lets also say that this job candidate is currently out of work and has a tremendous amount of historical debt issues and credit problems. These facts may lead me to assume that the individual may take a position too quickly because they are out of work while looking for a higher paying job elsewhere to help them get back on financial track. The high costs of job (re)placement to the company may force me, as a hiring manager, to move this applicant to another pile if you will.

Credit scores and historical data may also be indicative of a candidate's overall character. However, and here is where I have some issue with this entire concept, what about the people who for years have had great credit and due to the latest credit (mortgage) crisis are in financial distress? These people applied for a home mortgage loan and got approved by the lenders using calculations that should be illegal. They trusted in their mortgage brokers and did okay for a year, two or three and now that their interest rates have shot up, they can no longer afford their homes. And now their home has lost value in a downward market and is not selling easy because the increased housing inventory. These people are now in trouble from every financial angle possible - and now maybe including their ability to get a new job. I would like to know how you feel about this issue. Please comment on this issue that may be effecting countless Americans looking to find a new job and get their families back on track.

An important note in closing - no one can legally access your credit history without your consent. What I recommend when asked to run your credit check by a hiring manager, is to reply that you will allow it but only when a formal offer is made.

Do this for a few reasons. First off, let them see who you are and what you can bring to the table. The interview process as a whole should allow them to determine this. A credit check to early in the process may be used as a dis-qualifier. You can justify your reasoning for allowing it only after a formal offer is made by stating the fact that frequent credit checks have a a negative impact on your credit score.

And in the meantime, if you want to know your credit score, here are the three companies to contact. You are allowed one free credit report from each of these three per year.

Equifax P.O. Box 740241 Atlanta, GA 30374-0241
(800) 685-1111

Experian P.O. Box 2104 Allen, TX 75013
(888) EXPERIAN (888-397-3742)

Trans Union P.O. Box 2000 Chester, PA 19022
(800) 916-8800

Let us know how you feel about this issue by going to the following website and voting on this topic - http://www.jtlservices.com/

Greg Angelillo
Online Editor
JTL Services, Inc.
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Southington, CT 06489
Phone: (860) 426-0583
FAX: (860) 628-5008

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