Today I was puzzled to find out that many jobs today wont hire someone base on their credit score. I understand if you have state official jobs and banks or the treasuer department. But retail, medical and production, are you serious.
I was looking into the unemployment rate of my state. There is approximately 9% of unemployed. In my county alone that has become about 11%. I was asking people around as to why do they feel they are not employed by now considering we are told the economy is getting better. I was told that a lot of people that are willing and able to go to work are being overlooked because they now have bad credit.
One gentleman whose name I will not disclose told me that he had perfect credit until the economy took a turn for the worst. He show me how easy it was to get bad credit through no fault of your on.. First he got the pink slip from his job. Laid off back in 2008. Then he applied for unemployment but it takes two weeks to get an answer and then you get your funds. You do not get what you were making obviously so, now he is working with almost three weeks of no income. Trying to go out and find employment, wasting money he does not have in gas.To be rejected because the economy is bad. No one is hiring at this time. Mortgage or rent is due. One late mortgage payment is like being late the whole year. When the making home affordable program started, it was a blessing to many but in the process it has left your credit damaged. While you are waiting for the process no matter what you send in for a mortgage payment, it will be put aside until the modification process is done. This is approximately 60-90 days... Late, Late, Late and now your score is horrible.This is one example he showed me.
I research to see if the state of Pennsylvania allowed Credit checks as part of job employment and it does. One main reason the unemployment rate is high.
I found a few states that their unemployment rate is low and one reason is because the states have decided to stop companies from discriminated base on your credit score. If you can not get a job to pay your bills you will never have a good credit score again. Intead of judging base on a score, find out what cause the defaults in a negative credit report and I think you will find a lot of people lost their jobs and just couldn't paid their bills.Should this be a reason for someone who is well qualified for a position not get the job??????
Here is the article I found about the states that put a stop to this discriminating issue...
State Laws
As of 2010, legislation in Maryland is being considered to restrict employer's access of a prospective employee's credit history. The legislation would authorize employers to request credit reports from applicants only if the report would serve a legitimate purpose for work-related reasons or if the employer is under a legal obligation to request the credit report.
Washington and Hawaii have enacted similar legislation which limits employers' rights to perform credit checks during the hiring process. Most states that have passed restrictive legislation provide an exemption for financial institutions.
These states have cited concerns with the consequence of making hiring decisions based upon credit reports, such as the inadvertent consequence of disproportionately passing over otherwise qualified employees.
Concerns are that, during a time of economy downturn, contingent hiring policies based upon credit reports lead to more unemployed applicants who may have overextended themselves due to unemployment.
Lastly, these hiring decisions may disproportionately impact minority groups who traditionally have been underrepresented in professional-sector positions.
Read more: Laws Against Employers Checking a Person's Credit History
eHow.com http://www.ehow.com/list_7240230_laws-checking-person_s-credit-history.html#ixzz1HPzlLodR
Thank you for you time... Sorry to sound so condescending.
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