Brad (name has been changed) recently received a formal offer from a
large institution for a management position he had been interviewing
for. The offer was subject to the ‘normal’ background check. Brad had
been selected out of many candidates, and had all the skill sets they
were looking for. He was very excited to have been offered the position
as he had been looking to work for this organization for many years. The
formal offer had a start date of 2 weeks from the date he received the
letter.
Thankfully he did not give his current employer his 2 week notice, and waited for his background check to be finalized.
Approximately
after 1 1/2 weeks he was informed that they were rescinding their offer
due to his credit score “dings” and “dents”. Unfortunately Brad had
been one of the thousands of citizens who had been caught in the Housing
Bubble. In 2009 one of his properties he owned had gone into
foreclosure. Due to delayed credit reporting it only started showing on
his report in 2013.
Prior to the foreclosure and since, Brad has
been extremely diligent on paying all his bills on time and building up
is credit ( per Brad currently in the 750’s). Brad has continued to work
in the same field during this time frame, and continuously receives
good reviews from his employers on his management and sales skills.
If
you are qualified, have the necessary skill sets and are the best
candidate for the position being offered, should a Foreclosure/ Credit
Score prevent you from getting the position you were offered? Should
interviewers now be asking during your initial interview, “What is your
credit score”, or “Do you have any negative history on your report?”
When doing a formal application should a question be regarding your
credit if the organizations are placing a big emphasis on this number?
Organizations
in different fields will either place a large emphasis or small
emphasis on credit scores subject to the field they are in. Does human
element and common sense come into play or is it not allowed due to laws
and regulations?
I am neither for or against using credit scores
in deciding if we will get the jobs we dream about. I am in favor of
common sense.
What are your thoughts?
"Choose a job you love, and you will never have to work a day in your life." — Confucius
For your interest below are some links to articles regarding credit scores and job hunting:
http://credit-debt-management.yoexpert.com/credit-reports-and-scores/how-can-a-low-credit-score-affect-my-chances-of-ge-1864.html
http://info.theladders.com/career-advice/will-bad-credit-hurt-job-chances
http://career-advice.monster.com/job-search/getting-started/bad-credit-and-your-job-search/article.aspx
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