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Have you ever applied for a credit card, loan, or hire purchase and wondered exactly what they mean when they say they are doing credit checks? Do you then start to worry about the gas bill that you paid late or the credit card payment you missed last year? These types of things all set the basis for establishing your credit rating, or the credit checks that they are referring to. It’s all about how you handle your money and how high the risk is that you will fulfil your financial commitment to the company should they agree to loan you money.

Credit checks are performed through a search. These searches will usually give a sense of your past as well as present financial obligations. Read Full Post…

It can be a vicious and nasty circle. You lose your job, your bills fall behind, your credit score goes down and then you can’t get the job that you desperately need to improve your situation because your potential employer runs a credit check and you have bad credit.

It is estimated that as many as 60% of all employers conduct credit checks on their applicants and the number has increased significantly in just the past few years.

Employers justify this by saying that credit checks give them valuable information about a potential applicant’s honesty and sense of responsibility and that an individual who maintains a good credit history makes a better employee.

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And you’re damned if you do and you’re damned if you don’t.

If you are applying for a job and the employer requests a credit check, they can’t do it without your permission, however, if you don’t give your permission that could be the deal breaker right there. And if you have been out of a job for a while and consequently your finances have suffered and your credit report shows negative information that could also be the deal breaker.

So, like I said, “You’re damned if you do and you’re damned if you don’t”.

And at this point in most states across the United States there is no real way out of this “Catch-22” dilemma.

The good news i

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