According to a survey released in 2010 by the Society for Human Resource Management, 60 percent of employers perform some type of credit report screening on applicants. Of that 60 percent, 13 percent perform credit checks on all job applicants, regardless of the position for which they're applying.
Whether you like it or not, this means there's more than a 50 percent chance your credit reports will be taken into consideration the next time you apply for a job. Is that fair?
Well, for some positions that require the handling of money or personal financial information, it may be. However, during a time when unemployment is already high and people are continuing to fall behind on their bills, this can obviously make getting back into the workforce a lot more difficult when your credit is in the tank.
If you are job hunting, be proactive and pull your credit reports beforehand so you know where you stand. If there's negative information you're worried about, don't ignore it. Provide an explanation with your job application and describe what you've done to improve your credit situation. Hopefully your potential employer will look beyond the credit problems and pay more attention to the skills you will bring to the job.
