An increasing number of employers are using credit checks to screen potential job applicants. So missed payments on your mortgage, car or credit card could keep you from getting hired.
[A] credit check gives employers details about accounts in collection, debt levels, bankruptcies and other problems that would cast doubt on someones ability to handle responsibility.
But consumer advocates and some job seekers say that candidates are being unfairly judged by the circumstances of their private lives.
This is tough. All my years of loan approval experience are based on what is known as the 5 "C's" of credit and one of the five is character. People face hard times all the time, but if you aren't making every effort to pay back your debt I'd say you have a "character" flaw. I am in the middle of a financial crisis myself and I am working on paying back every penny I owe.
The hard part is not hiring someone because of their credit is only adding to our never ending economic turmoil. Maybe we need to give someone a break for a change.
What do you think? Should credit checks be banned in all states like they currently are in Hawaii, Oregon, and Washington?
[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]
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