Thursday, 14 June 2018

Can The Employer Check My Credit Score?

Employment is the major part of our lives. We study hard in order to get a good Job. Every year we wait to get our appraisals and a bit more then last year. Jobs are switched to get a jump in the salary. And it all revolves around earning for you basic requirement to earning for a luxurious life.

            We take education loan to study further. Have a good degree for better prospect future. It takes years of efforts and hard work to achieve a great degree. A good education will take you to a better prospect life! When you start searching the job, there are various factors which you see in taking the employment. How the company is, what are the future prospect if you are looking forward to stay in that company for long. How friendly is the employer and the work environment. This is the story of our end. Lets look at the flip side. What would an employer want from their side?

            The employer wants a dedicated employee who is worthy of taking the responsibility which will take the organization on a higher level. They want an employee who is trust worthy. They want some one who will keep the company information confidential. Who will keep the authenticity of the company and stay integrated for the role designed for him / her. When the job is offered to an executive role or a basic position, there can be possibility that much of employee’s background or a ref check, but when it comes to a higher designation or a profile where money is related, a position where lot of integrity is required there is a ref check what organisation does. Also, when an employee is too greedy to get a job and there is something where an HR feels something not right, it becomes a concern for the company.

Now we come to point where the topic which is if employer can check the credit score or Credit Report. The answer to this is variable. The employer can check the credit report. But, he can’t see each and every minute detail. The question then arises that why would they check it.
1.    A lot of delayed payments will show your laziness or negligence towards the responsibility of making payments.
2.    If the lot of credit is being used with the debts shows the financial stress one has. More the financial stress, more is the attention driven towards various ways to earn money which may make one greedy or taking wrong decisions.
3.    If one racklessly uses the credits, one has no vision towards future or savings.
Now what can the employer see in the report?
1.    They cannot see everything which is mentioned in the report. Its a modified version of the report where only the amount the employee has taken over the period and the payments made are seen.
2.    How much is the outstanding is seen.
3.    How regularly the employee pays the amount is seen.
Know the Rights!
            1. The employer cannot see the report without your permission or consent.
2.    They must notify you before checking the report.
3.    If there are several late payments but not regular, they are liable to ask you before taking any decision.
4.    If they reject you on basis of your report, they must tell you the reason.
5.    It can be a case of identity theft and one must ask the details.
6.    They are liable to tell you the bureau from where they have fetched the report.
If you are in a position where you know that you would be a valuable asset to the company and they are been paying a handsome amount to you, be prepared for it. Clear your debts. Be responsible payer. Don’t be lazy and the one with “I Don’t Care” attitude. You are paid for the work where the company is represented by your behaviour towards the sensitive issues. Take help of credit advisory if you are unable to solve some issues. Speak with the banker for genuine issues. Everyone considers the genuine reasons. Humanity exists, perhaps you should be true enough!

While you work for any organisation, its a mutual growth for both of you. So do not feel neglected or bad or upset if because of your old behaviour they would not hire you! Be responsible enough for the decisions you have taken and you are going to take!

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