It is commonly seen worldwide that as the graph of recession goes up, the rate of unemployment also climbs up the charts, people living in the recessive economies generally face these kind of problems.
Moreover it is even worst when the employers tend to check over the credit details of a person in a recessive period while selecting or hiring the employees for their company.
But one can still get a good job which pays you well despite of having a lower credit condition. It has also been seen that accepting your past mistakes for a bad credit condition, helps you to make a positive image in front of majority of employers. But before you look for breaking into the tough one, you should know what exactly the employers look into while doing a credit check.
Job Credit Check What They Look For:
Competition is at its peak for getting a good job nowadays, more over the credit checks done by employer are so difficult that hardly some of them are able to crack the interview even after having a bad credit report.
There are some wrong misconceptions in the market about the credit report what the interviewer looks. Below are some of the misconceptions and the realities given to clear the doubt that what actually the interviewer looks in the Credit Check.
Pre Employment Credit Check Points:
1. Myth:
All the companies check out all credit details for all the hiring employees and only select the ones with a clear and good credit condition.
Reality:
There are only a few companies which check the credit details of all the hiring employees with full and deeper consideration. In a survey it has been found that only 18 out of 70 companies keep this kind of check and that is also for some specific reasons. Maximum of the companies keep the check in the random manner over random people and generally for those who behave mysteriously.
2. Myth:
Employers and the money lenders, they both check out for the same kind of information in the credit check.
Reality:
It is true that money lenders and the employers take a check on the credit details but the real fact is that the company employers generally take a deeper and more cautious look over the previous and past credit details before hiring the employees. This is generally done to avoid the entry of any suspicious wrong person in the company.
3. Myth:
Many of the employees think that if there are negative marks in their credit reports then they will be directly disqualified from giving the interview.
Reality:
No, this is not the scene in the professional world. If you have a bad credit report or negative marks in your credit report then also your employer will call you for the interview, but yes they will be eager to know the real reason behind the credit fault.
4. Myth:
The credit checks done over the employees are generally done to single out the defaulters from the good credit employees.
Reality:
This is not true. The credit check is done for the company to be on the safer side and also to know about their employees in detail.
5. Myth:
All the negative marks on the credit report are alarming for the company which results as a negative image in front of the employer.
Reality:
No, all the negative marks on the credit report are not always alarming for the company, yet in some of the exceptional and sensitive cases the negative credit report becomes an issue for the company.
6. Myth:
The hiring person or the employer is least bother in hearing to all the reasons behind having a negative mark on the credit report.
Reality:
It is absolutely a wrong misconception that many of us have, it is just the opposite. The employers who are hiring you are always eager to know about every single reason for having a bad credit report along with honesty. More over they always want to know that in the past if you have made a mistake, then now how you have corrected it.
So, we can say that having a good and strong credit is a plus marking for the candidate but a strong handshake with a person full of qualities and skills is considered more that a good credit report for getting through an interview.
Pre-employment Credit Checks:
Knowing the in’s and out’s of the person that you are hiring is always beneficial for the business and the company. Moreover knowing the credit details of a person gives the employer a clear image of the person and also it shows the fact that how much really is the person responsible with his financial welfare.
These Pre-employment checks are generally done to gather a certain amount of information about the specific person. Let us see what exactly that information means.
What Employers Look for in Credit Checks?
1. The person’s full identification and the social security number of that person.
2. All the information about his residence and address.
3. The duration of stay on the particular address.
4. The past employment history of the candidate which includes all the details of his/her previous work done in the company.
5. Other names that are being used by the same person in different places.
6. It verifies the public record and the criminal record of the person.
7. It gives all the credit details which informs about all the beneficial situations that the person has gone through. More over if there are some faults in the credit flow then it will be easily show on the report.
Is a Credit Check for Employment Illegal?
No, credit check for employment is not illegal in a majority of places. But the employment done on the basis of credit check is surely wrong and unfair to the people. There are a many reasons for having a bad credit, it can be a sneaky divorce with your wife, or the late payment on your bills, or sometimes you are out of your luck.
This bad credit issue has been raised recently, being a poor guy does not always mean that the guy is dishonest or wrong. The government didn’t paid proper attention when this very reason was affecting the poor, but now in the recession time period when the middle and the upper middle class too are suffering from the bad credit conditions, everyone is so considered about the issue.
How to Get a Job with a Bad Credit History:
Even if you have a cruddy credit history, you can improve yourself and get successfully through the interview. In fact it is not the credit report which justifies your potentials but it is you who actually makes the difference in the crowd. Yes standing in the crowd and giving you best display in the interview will likely become the reasons for the employer to consider you over your bad credit history.
The key to successfully clear the interview is inside you, you just need to focus on your potentials and honestly present them in the best way possible during the interview. So let us see some of the points of improvement and points that could help you to get a job along with a bad credit history.
1. Credit check is an essential and critical part of hiring of the employees. It helps the company or to be more specific the employers look into the insides of a person, which helps them to know the employee more in terms of financial conditions and stability. It provides all the important information about the person which makes the picture of the candidate crystal clear in front of the employer. But if you have a bad credit history due to any of the reason, you should not be worried about it infact you need to concentrate fully on all your strong points of yourself which you will be presenting honestly in front of the employer.
2. While knowing that you have a bad credit history, you should be the first one who should be coming up with the honest explanations of the mistakes made even before the employer asks you. Generally the credit check is done in the second round or the second phase of the interview, so you have the chance to make the thinks clear before they make any negative questions in the mind of the employer. By doing this you will be clearing all the questions which may rise up after the credit check. This is also helpful because if in case you are hired without a credit check and year after you working in the company, there is a condition where you are needed for your credit check then it may result in the most unexpected way possible.
3. Once you have come up with honest image in the employers mind then the next step for you should be a demonstration or a presentation of a business tactic or strategy. This shows that you have done your homework well on the company and for the interview. By discussing a effective strategy you can also tell some of the improvement measures that you have taken in the past couple of days or weeks to improve the credit rating. By doing this, you will assure that the all the questions in the mind of the employer regarding your bad credit report are put to an end.
4. If in case, your credit report is quite questionable, then it is better to prescreen all the companies and the different jobs. Yes this will save you from landing up in any seek of legal problem or federal issue. Sometimes it happens that your credit report is not so good that it can be approved or over looked against your talent, so it is always best to be on the safer side by selecting the small companies and organization where chances are least for a credit check and where skills are more considered. MNC’s generally don’t approve very bad credit history and in some cases they even may put you in to legal consideration.
5. The best way for getting you a good job is by searching deeper in your connections, friends and families. These types of jobs are more reliable and constant in terms of credit check. Moreover when anyone refers you to a certain place then chances are more for you to get the job as compared to others who are new to the company. Being a known person or a known person’s reference you will be given some leniency and this is the best advantage for you to get successfully through the interview, even without thing about your bad credit history you have.
6. Always take small steps in the beginning. When you are know of the fact that your credit reliability in the market is not up to the mark then you need to start your career with small steps by targeting small firms and companies. You also need to improve your credit conditions by doing this. When you will finally improve your credit and also you will have some experience in the market, it is for sure you will be considered more that anyone available for the interview.
Lastly, we can say that having a bad credit is not the end of life. Like every problem has its solution, you just need to find it at the right time; same is the problem of bad credit history. If you have the skills and ability that makes you outstanding from others then chances are higher for you to get through the interview successfully.
