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Personal finances are private and you do have a right to privacy. That is why you have to sign an authorization form for anyone to access your credit report and score. It is simply another cheap bigoted way to screen applicants coming from the HR unprofession which screens applicants by every criteria other than their qualifications to do the job. HR people are too dim witted and incompetent to make judgements based on merit.
It is illegal in some states including Illinois and will probably eventually made illegal in most states or federally. Hiring has in many cases turned into creepy employer stalking. Prospective employers have no right to your personal finances nor your salary history.
I can drive a truck through the exceptions in Illinois:
If the position:
Requires bonding
Has access to $2500 in cash or assets (most retail)
Has signatory power for at least $100
Has access to personal and confidential information
Additionally, all financial institutions, insurance companies, debt collectors and law enforcement are exempt meaning a credit check can be performed.
I know Wal Mart used to do it for their manager but not their regular store reps like cashiers and stock teams. Im curious what is considered a bad score and what is a good score.
My other half for a time worked for Walmart. From what he told me it is still the same with credit checks for managers and at his store those who work in the pharmacy since those employees are subject to random credit checks. He doesn't know what they consider to be bad/good score but if one is a member of management or in the pharmacy and if their wages are garnished due to not paying a debt then expect to be demoted even if means going from full time down to part time. He knew a few who had that happen to them when he worked there.
If you had read my previous posts, I mentioned that we also made the same mistakes many others did. But we managed to keep afloat until we corrected them and changed our lifestyle.
My mother passed from cancer in 2009. I know all too well what it can do. What you CAN and should do, is purchase a supplemental cancer policy that will cover what insurance will not. That's what my father did, and he didn't come out of pocket for much of anything.
If you have bad credit, somewhere down the line you made a choice that eventually had an effect on your credit. You may not realize it at the time, but it is there.
If you are married and your wife takes off and runs up tons of charges on a joint credit card, your credit will be dinged. If you lose a court case after being sued, that will be in your credit report. If you are someone who doesn't use a credit card or doesn't have any debt at all, you will be dinged because you have nothing on your credit report at all. If you were unfortunate enough to be laid off from your job in 2008 or your job was sent out of the country, you might not be able to pay your bills on time until you find a new job. But what if you can't find a new job in time to pay your bills? If someone steals your identity, you may spend years getting it cleared up. Meantime, you're not able to get a job even if you war a halo to your job interview. How much of all this is your "choice"?
If you are married and your wife takes off and runs up tons of charges on a joint credit card, your credit will be dinged.
My choice here is to see the early warning signs of her behavior changing and either go talk to a lawyer and get a divorce or to stick money aside in another account in the event that something like this happens. Once the courts have ruled, I begin paying my portion and keep the balance current until paid in full. Someone would be foolish not to keep an eye on your spouse's actions.
Quote:
Originally Posted by rodentraiser
If you lose a court case after being sued, that will be in your credit report.
True. But this does not give you a bad credit rating. Failure to pay the money awarded in the court case will. Make payment arrangements, and stick to them. You should have some money stuck back for an unexpected event.
Quote:
Originally Posted by rodentraiser
If you are someone who doesn't use a credit card or doesn't have any debt at all, you will be dinged because you have nothing on your credit report at all.
No..... not having a credit history is different than a bad credit history.
Quote:
Originally Posted by rodentraiser
If you were unfortunate enough to be laid off from your job in 2008 or your job was sent out of the country, you might not be able to pay your bills on time until you find a new job. But what if you can't find a new job in time to pay your bills?
I WAS laid off from my job in early 2009. I had savings built up in the event that something like that ever happened. Savings kept all my bills current until I found a new job. I had enough in my personal savings without dipping into our joint savings to last 6 months (been saving since I was a teenager). I found a job that didn't pay what I wanted, but did help lessen the blow to my savings while I continued to look for something else. Once I got back into my field, I began rebuilding my savings. You NEED a backup plan, and a backup to the backup plan. It's foolish not to have something in place.
Quote:
Originally Posted by rodentraiser
If someone steals your identity, you may spend years getting it cleared up. Meantime, you're not able to get a job even if you war a halo to your job interview.
Report identity theft immediately and you can get all of the accounts frozen. In the meantime many institutions will work with you to get it cleaned up. This may require a lawyer. We use a credit monitoring service that notifies us the second something looks fishy.
Quote:
Originally Posted by rodentraiser
How much of all this is your "choice"?
All of it. Maybe not the actual actions listed above, but the planning for those events and the reactions to those are my choice.
All of it. Maybe not the actual actions listed above, but the planning for those events and the reactions to those are my choice.
If you have middle class resources and avoid bad luck, yes. If not, many things are not avoidable and using credit reports for hiring just turns the working poor into an underclass. It is counterproductive at a societal level and should be disallowed.
If you have middle class resources and avoid bad luck, yes. If not, many things are not avoidable and using credit reports for hiring just turns the working poor into an underclass. It is counterproductive at a societal level and should be disallowed.
I guess we are all entitled to our opinions.
I didn't grow up middle class (FAR from it), but I'd like to think my decisions helped to eventually get me there.
Just out of curiosity what do you consider unavoidable? I'd bet in most cases that if you dig back far enough to get to the root cause you'll see that there were options at some point and someone chose the wrong one. It happens..... but unavoidable? Maybe not.
Just out of curiosity what do you consider unavoidable? I'd bet in most cases that if you dig back far enough to get to the root cause you'll see that there were options at some point and someone chose the wrong one. It happens..... but unavoidable? Maybe not.
Any one problem is avoidable, but then another problem could just as likely come along because of what you did to avoid the first one. You can raise or lower your probabilities of bad outcomes, but anybody who thinks there is a single safe way was just lucky in where/when/who they were born.
I also think it is very clear, as I mentioned, that at a societal level allowing the general use of credit reports for non-credit purposes is a mistake. There's a reason we allow bankruptcy even when somebody could have easily avoided it through their decisions in the years prior. Not allowing bankruptcy hurts the economy as a whole. It isn't a coincidence that the housing crash and recession happened after bankruptcy reform made it harder for people to declare bankruptcy. Banks were lending stupidly before that, but they only got really stupid after they thought they had a new law protecting them from their own bad lending when all they did was turn the issue into a national problem. Now employers think they can save money on hiring and monitoring employees by looking at cheap credit report. It will work for great until it doesn't.
Medical records are private and being part of the health industry, we spent lots of money in compliance to ensure they stay private. Why do we do this? Because HIPPA laws have teeth! Penalties are serious and can include criminal charges.
If it's not private it's because in most cases the consumer gives up his health information himself (i.e. facebook, etc).
If your not in the business of handling money or a high-branch, then a credit-check shouldn't even be used in the process.
There's one law that needs be protested by consumers. I find it quiet silly and redundant that a credit-check is still being used for jobs that handle very little to no money.
Ontop of it, there are consumers who have lost property value-jobs due to politics and schemes. Of course, through traditional means these are never factored in.
The check simply displays a number. It does not tell me anything else but that. The system has been and always has been, rigged.
One time at the end of the work day I was in the elevator with the ceo of the company. His weekly salary was well into five digits. He wished me a good evening and I replied that I was on my way to my second job so I wasn't so sure how good of an evening it was going to be. You should have seen his face. He lost all color and gave me the oddest look. I guess from his point of view people with second jobs were a potential security risk. He could have remedied that by paying some of us a little better but no, let's not go overboard.
I have to re-train and hire all over again!
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