Friday, May 22, 2009
Monday, May 18, 2009
Can't get hired because of your credit score ?
Have you applied for a new job recently that you were extremely qualified for only to be told you were rejected after your Credit was reviewed? I personally know at least 10 people that have had this happen to them over the last year. These friends are EXPERTS at what they do but have had financial difficulties within the last 10 years. A bankruptcy, divorce, loss of income, 30 day late on a credit card, short sell on their home, etc.. etc.. Does this inhibit their ability to do their job or make them any less of an expert in their field ? Absolutely not !!!! Yet there it is, keeping them from being able to do what they do best and providing for themselves and their families.
This seems ridiculous to me but it is becoming more and more of an issue for our Nation's unemployed.
With the country's largest corporations laying off thousands of employees everyday we have a real crisis happening. Something we have not seen for many, many years. Of course the world has changed a great deal since the days of The Great Depression but we now have new challenges for those seeking a new career.
For the last ten years I have worked as a National Account Executive for a National Bank. I have seen THOUSANDS of credit reports and have always been surprised at the results. Many times highly skilled people such as Doctors , Lawyers, Professional Athletes, Actors, Engineers, and The CEOs of major corporations have the worst credit scores. These individuals often have extremely high incomes and large amounts of cash in reserves. Amazingly enough, these same people are turned down for home loans due to low credit scores. I have found in my experience that these low scores are usually caused by life happening. In some instances these clients had a lousy accountant that did not perform. I have seen business partners that were supposed to take care of bills and didn't, illness or a hospital stay that kept them from being able to pay on time.
What if Hospitals hired their surgeons based on credit? Would you choose a heart surgeon with perfect credit over one with 25 years of experience who had a Bankruptcy due to a Divorce? You never know, that could be an option some day.
My beef here is obvious. I do not see how one's credit score has anything to do with their ability to perform, yet here we are seeing people turned down for employment because of Credit issues.
The three credit reporting agencies, Transunion, Equifax, and Experian are affecting our lives everyday and most of us have no idea what the law is or how to correct it.
Do yourself a favor and get educated !! If you were sick you would go to the Doctor wouldn't you ????
Visit www.tfc2009.info and listen to the free audio. if you decide to take charge, tell them Darren Peck sent you.
This seems ridiculous to me but it is becoming more and more of an issue for our Nation's unemployed.
With the country's largest corporations laying off thousands of employees everyday we have a real crisis happening. Something we have not seen for many, many years. Of course the world has changed a great deal since the days of The Great Depression but we now have new challenges for those seeking a new career.
For the last ten years I have worked as a National Account Executive for a National Bank. I have seen THOUSANDS of credit reports and have always been surprised at the results. Many times highly skilled people such as Doctors , Lawyers, Professional Athletes, Actors, Engineers, and The CEOs of major corporations have the worst credit scores. These individuals often have extremely high incomes and large amounts of cash in reserves. Amazingly enough, these same people are turned down for home loans due to low credit scores. I have found in my experience that these low scores are usually caused by life happening. In some instances these clients had a lousy accountant that did not perform. I have seen business partners that were supposed to take care of bills and didn't, illness or a hospital stay that kept them from being able to pay on time.
What if Hospitals hired their surgeons based on credit? Would you choose a heart surgeon with perfect credit over one with 25 years of experience who had a Bankruptcy due to a Divorce? You never know, that could be an option some day.
My beef here is obvious. I do not see how one's credit score has anything to do with their ability to perform, yet here we are seeing people turned down for employment because of Credit issues.
The three credit reporting agencies, Transunion, Equifax, and Experian are affecting our lives everyday and most of us have no idea what the law is or how to correct it.
Do yourself a favor and get educated !! If you were sick you would go to the Doctor wouldn't you ????
Visit www.tfc2009.info and listen to the free audio. if you decide to take charge, tell them Darren Peck sent you.
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