As we all know, the rate of
unemployment all over the US is staggering.
Many of these unemployed people are without jobs through no fault of
their own. Many companies are closing
their doors, and with so many people out of work and looking for jobs, this
gives employers a chance to try new methods of weeding out “undesirable”
candidates. One of the methods now being
used is to ask each candidate to agree to a credit check at the time an
application is submitted.
What does a credit check have to
do with one’s ability to work? Well,
according to employers, if someone has bad credit, they are considered a high
risk for corporate theft. So, if you
have bad credit, you will not be getting an interview. By using this theory, instead of creating a
time frame for 20 interviews, that number can be lowered to 5 or less with the
click of a button.
True, prospective employees
aren’t forced to submit to this credit check, however, if you don’t agree, your
application will not be considered. The
employers hold all the cards on this.
There are a few flaws with this
method of choosing potential employees:
1. Each time a credit check is run, it lowers
your credit score. Credit reporting
services don’t see this as an employment check; they just see it as you looking
to get approval to raise your credit limit or to add yet another credit account.
2. If you file applications with several
companies, all of which are receiving your credit report. This means that an unknown number of
strangers are privy to not only your credit score, but also know each bank and
amount you have credit with.
3. You will not be given a chance to explain
your low credit score. Employers don’t
care WHY the credit score is low; they just care that it IS low.
4. Employers don’t take into consideration that
you haven’t paid your bills because you’ve been unemployed. They see the low credit score and
automatically assume that you will steal from the company. It doesn’t seem to cross anyone’s mind that
you want a job not to steal, but to earn money to pay your bills in order to
raise your credit score.
The longer a person is out of
work, the more behind he or she will get on their bills. The government tells us that the rate of unemployment
is getting lower. But, if you talk to
someone who is unemployed, you will understand that it’s not the unemployment
rate that’s lower. What is happening is
that people can’t find jobs, so their benefits, including any extensions, have
run out. With less people collecting
benefits, this will make it appear that less people are unemployed.
How can this be fair to the
honest person who needs to work to support his or her family? Imagine not working for months and getting
behind on your bills. Then, imagine that
a job opportunity finally arises, which raises your hopes only to have those
hopes shot down because of your credit. This
situation is even harder if the unemployed person is the sole provider for the
household.
Now you need to think of what all
this means not only to your ability to find work, but what can this do to your
privacy? You know that each company you
apply to has people who know your credit score and where you have credit. These people will also know if you have
judgments against you for unpaid bills and fines. They will also know if your home is in
foreclosure or if your vehicle is in repossession. They will see every late payment and know if
your accounts are with collection agencies.
This is information most of us would not want leaked out.
Right now, there’s nothing that
can be done about this practice. If
you’re looking for a job, you just have to accept the fact that you will lose
your privacy when it comes to your credit.
One thing you can do to protect your privacy on the Internet is to use a
proxy server that insures encryption with every connection. Please take advantage of Privacy Partners’
FREE trial offer. Each time you connect
to one of our servers, you can be rest assured that your information is safe
from prying eyes.
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