1. December 14, 2010 Unique Monthly Visitors: 200,709
Tuesday, Dec. 14, 2010
WorkWise: Bad Credit, No Job Offers?
By Mildred L. Culp - culp@workwise.net
Competition for jobs is so keen right now that if you have credit problems, you’re wise to know how your credit
rating impacts you professionally. Then, learn how to negotiate your way through the issue with employers.
You might have been holding your breath while hoping that no employer would notice your lackluster credit.
HireRight Inc., of Irvine, Calif., conducts global surveys of 1,800 professionals who could request credit checks.
Forty-two percent of them checked in 2009. That number dropped to 32 percent this year. The 1,818
companies ranged from fewer than 49 employees to more than 25,000.
ADVANCE PREPARATION
Nason & Nason Inc. - Recruiters at Nason & Nason Inc., tell candidates how to overcome credit problems when job hunting.
CEO Dennis Nason, with daughter Ali Nason, president, discuss candidate strategies in their Coral Gables office.
While not all industries use credit checks, someone might ask to check yours. Dennis Nason, CEO of the Coral
Gables-based recruiting firm Nason & Nason Inc., primarily places people in financial institutions, which usually
do conduct background checks. Bruce McClary, Media Relations coordinator at the nonprofit ClearPoint Credit
Counseling Solutions, in Richmond, Va., adds that government and public safety organizations are also likely
to check.
Look closely at your credit report before job hunting so you understand your credit status, advises Mike
Eshelman, vice president of Client Development at ConsumerDirect in Costa Mesa, Calif. McClary concurs,
stating, “Always check three credit reports with scores before applying for a job. If extended unemployment
caused problems, develop proof that matches the credit file with your unemployment time line. Provide
documentation of dates, benefit amounts and the efforts you made to meet your credit obligations. In today’s
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economy, many employers will consider extenuating circumstances.” Nason indicates that you can maximize
even token payments in your search.
Eshelman points out that “employers receive the applicant's credit report, not the credit score.” Recognize that
one specific score won’t make employers hire or reject you. However, he says to look for errors and see if you
can get creditors to remove or correct them.
Also, know your rights. Chris D’Angelo of New York City’s Vandenberg & Feliu, LLP, provides corporate
employment counsel. He says that federal law protects job seekers in several ways:
• You must authorize the company to do a credit check.
• If you request a credit report in writing, the employer must comply.
• If you lose out on a job because of a background check, “the employer must provide you a copy of the report
and it may be wise to check the legality of the decision with a lawyer or the EEOC.”
ON THE OFFENSE
When an employer asks for authorization and you have credit problems, McClary advises “being up front. This
helps you come across as proactive and concerned about resolving credit issues. It also helps you avoid going
further into an interview if that’s going to be a deal-breaker.”
Nason teaches applicants how to prepare for this situation. First, impress the employer with character, which
he says far overrides your ability to handle money. “Explain the nature of your financial problems and how they
got there,” he advises, whether caused by the bad economy or not. Show how you’ve taken responsibility by
changing your lifestyle, whether dropping inessentials, such as a fancy car or club membership, or whether
another family member is now working. Be making small payments each month and mention them.
Of course, “if you lose a job on basis of a credit report, that says something of the work environment,” observes
Nason. “If they won’t sit down and discuss it with you, that may not be the place, because the company might
be too inflexible.” He maintains that if the employer isn’t patient in discussing identity theft, that’s another
reason to move on.
Dr. Mildred Culp welcomes your questions at culp@workwise.net. © 2010 Passage Media.
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