Credit Reports

(This is a posting that I wrote 14 months ago.  I felt it was important to repost because the issue is becoming more important for job seekers).

Interesting perspective on why employers run credit reports.

"Perhaps someone claims they made a good six-figure income for the last 10 years, yet they show repeated credit problems during that period. Are they lying about their income? Are they poor money managers? Do they have a major financial issue that\'s draining their resources? Any of these might (or might not) have a negative effect on their job."

The Fair Credit Reporting Act governs almost all issues related to the use of credit reports. Job applicants have the right to a copy of their credit report, and the law requires the hiring entity to provide a copy to the job applicant. In addition, if an employer decides not to hire a candidate based on the results of a credit report, the candidate must be told the reason why and be provided with the credit report information.

Source: CareerBuilder.com