Pre-employment credit checks (1 Viewer)

Well if I'm a boss, I ain't gonna do it. Just gonna show some faith. The ****ing world hands most of us a load of **** daily. Some come out of it cleaner than others. I can't stand the idea of judging someone based on some arbitrary number on a piece of paper. Talk to them face-to-face and go with my gut. I'd rather be wrong than not give someone a chance.

Again, most (a very large percentage) pre-employment credit checks do not provide a FICO score and they are not basing pass/fail on a number. They look at number/amount of open collection accounts, trends in payment history, reliability, etc. It's pretty obvious to tell the difference between someone living off of credit cards to pay bills for a while and someone who habitually shirks their responsibilities.
 
I also use it as an honesty check...say to the prospective employee "We run background checks, is there anything you need to let me know"...




Kiwi, you seem like a decent poster-- but i wouldn't want to work for you in a million years.

You see, I- and i imagine most reasonable people-- would probably assume you were referring to criminal history or, if you *specifically* stressed that you place emphasis on credit history-- i would then think you were looking for bankruptcies, repossessions, i.e. really bad stuff... none of which i have (or had) ten years ago when i was turned down for a job b/c my credit score wasn't high enough.

Not to toot my own horn, but i have been the #1 salesperson in the nation for my company for the past year (well, up until this quarter i dropped to #3 :)) and you would have missed out on hiring a superstar candidate if you had paid attention to even one iota of what the firms of Experian, Equifax or TransUnion had to say about me.... am i an exception?? Maybe, maybe not... it's a chance you'll just have to take.
 
Do you mean to tell me that if I dont pay my debts that my creditors are alllowed to say bad things about me? That's scandalous! It aint MY fault they were crazy enough to let me buy stuff on their dime. They shoulda known I wasnt any good at keeping promises. This sort of outrage needs to end!



again, for some reason in this thread you seem incapable of intelligent debate... if you're gonna stick with the sarcasm thing-- at least make it entertaining.
 
FWIW and FYI - many companies (and admittedly not all) will not hold a bankruptcy against you (for the purposes of employment) - especially if your record since is good. It's seen as a valid way to expunge debt. Obviously, YMMV and your experience may very well be different.

Thanks for the tidbit. TBH, I really dont know that much about it, and all I ever got for an answer when I asked people was "your credit record" Now, given that ive been fairly well within my means, and fairly clean with my record post bankruptcy, it left me with the conclusion it had to be the bankruptcy.

I agree, seems like a valid way to get a clean slate, and start fresh, I guess thats why I had creditors hounding me about 1 week after delcaring, to open accounts with them.

I told them to take a flying leap, and junk. :hihi:
 
It is not a scam. You are correct in that debts have to be resolved to drop off. What is wrong with a company selling your debt to a company that is equipped to manage the collection in order to recoup some of their loss? Sure, the collection calls are irritating and it tends to follow you around, but you can stop all that by paying what you owe. And often, you can settle sold debt for much less than you actually owe, since the collection companies themselves bought the debt for less.

And while there are certainly shady companies involved in the credit/collections game, the system itself is not a scam, and it's ignorant for you to declare that it is. Maybe the fact that you don't take the time to properly understand it and how it works is why you got in trouble in the first place? (and this is coming from someone who did the same thing back in the day - you can definitely fix it and turn your credit around).

The scam-ish part comes when company A sells your debt after six years, then company B buys it and the clock starts over again.

Not to mention the nightmare that happens when company A doesn't exist anymore and you couldn't pay them if you wanted...but that ding sits there forever.
 
I agree, seems like a valid way to get a clean slate, and start fresh, I guess thats why I had creditors hounding me about 1 week after delcaring, to open accounts with them.

This has to be here:
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The scam-ish part comes when company A sells your debt after six years, then company B buys it and the clock starts over again.

Not to mention the nightmare that happens when company A doesn't exist anymore and you couldn't pay them if you wanted...but that ding sits there forever.

But there's no clock running until you've resolved the debt. Active debt doesn't "expire" (although companies can write it off and choose not to pursue it).

If company A chooses to sell your debt, they have recouped what they can from it. You don't owe them anymore, whether they are in business or not. You then owe company B/ This happens with mortgages all the time. There are tons of companies that write mortgages and then sell them to the bigger banks because the bigger ones are the only ones equipped to properly service debt long term.

If you have a ding from a company that is out of business and still owns your debt, you can address that with the reporting agency. It's a PITA, but it can be cleared up.

Again, I agree that their are credit/collection companies that are unethical in their reporting and collection practices, but the system itself is not a scam. It's designed to require you to pay back what you owe. That's what credit is.
 
www.creditboards.com

It is the Saints Report of credit. Go there and read the newbie seminars.

Anyone who ever uses credit for anything (almost all of us) should be very familiar with how the credit system works, your rights under federal and state fair credit laws, and how to go about the process of addressing issues that you might have.

You do have rights and many (though not all) creditors will back off simply because you demonstrated that you are an informed consumer and do not intend to be a credit victim. A well written letter sent certified mail to the right person can do amazing work for you.
 

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