5 Tips for Job Searching and Your Credit History - FlexJobs

5 Tips for Job Searching and Your Credit History - FlexJobs5 Tips for Job Searching and Your Credit History -31Each step of the job search process is nerve-wracking. From hitting send on your application, to sitting down for a job interview, and finally waiting to receive a job offer, job seekers experience a lot of nervous tension. Add to that the ever-growing requirement of a background check including your leistungspunkt history, and job seekers feel like they might burst.Why do employers ask for your leistungspunkt history as part of a background check? Gregory B. Meyer, Community Relations Manager with Meriwest Credit Union, says the leistungspunkt check is all about responsibility. The credit report can tell us a lot about our tauglichkeit employee. It gives us insight into how responsible they are with their money and credit. The thinking is, if someone is responsible with their own money, they will be accountable and reliable when given responsibility for your money.But what if the potential employees credit history is less than solid? Especially with the recent recession and continuing economic difficulties that many of us are facing, even the most responsible people may have bumps and bruises on their credit histories. Says Meyer, Right now, it can be difficult to find someone who has been unemployed for a while with perfect credit. We are seeing people with a number of credit issues applying for jobs.So, how can a job seeker handle this delicate situation and still be in the running for a job?Here are some expert tips on job searching and your credit historyExpect to be asked for your authorization to pull your credit report.Typically, an employer does not ask to review a prospective employees credit history until the latter stages of the hiring process. Any prospective employer who asks for your Social Security number early should be regarded with caution, as the job offer may be a scam. Generally speaking, a hiring manager will conduct the entire j ob interview process and only ask permission to run a credit check after youve been offered a position or are being seriously considered, explains Andrew Schrage of MoneyCrashers.However, This information is often requested at the point of application sometimes, even before the interview. And by law, it must be authorized by the applicant, says Mitchell D. Weiss of the University of Hartford Barney School of Business and author of Life Happens A Practical Guide to Personal Finance from College to Career. So even though its most common to be asked after the interview during the final stages of the hiring process, expect to be asked at any point during the job application process, depending on the industry and specific job.Know your right to refuse an employers request.According to the Fair Credit Reporting Act, any potential employer is required to obtain written authorization to conduct a credit check. Therefore, you do have the option to decline a request for a credit check. Also, if you agree to a credit check and are denied employment because of it, you have the right to request your own copy, recommends Schrage.Be upfront and honest about any credit troubles you have, and your plan to correct them.Meyer believes that, Honesty is the best policy. My HR team appreciates when an applicant is upfront about their credit status and speaks to us about the deficiencies in their report. In example, I have been out of work for six months and had to make several concessions to my budget to make ends meet for my family. I have one Visa account that is 30 days in arrears and I am two months behind on my mortgage. I should be able to bring these items current within two months of being hired. If someone were to be upfront with us regarding their past credit, we would appreciate their honesty. It is best to know ahead of time and not be surprised than the other way around.Ive always asked if the job seeker wanted me to know something about their credit report beforehand . Those who said nothing at first and feigned surprise later on, or worse those who said they didnt expect their report to be as comprehensive as it was, didnt get invited back, warns Weiss.Amend your credit reports to explain your situation.Adding a note to your credit reports is a good idea, according to Meyer. A rolle has the right to add a 100 word statement to their credit report at anytime should they feel the need. In the case of someone being unemployed or underemployed for a length of time, one could place a message on their credit report with all three credit bureaus that they were unemployed and had to allow some bills fall into arrears. The message will stay on the report for seven years. These messages will not help you access further credit, but may be helpful in accessing employment.Pull your own credit reports ahead of time so you know what employers will see.You cant plead ignorance when it comes to your credit report, and doing so will hurt your employment chances just as much as an actual bad report.Youre entitled to an honest-to-goodness free credit report through www.AnnualCreditReport.com, a site managed by the three principal credit bureaus Experian Equifax, and Transunion. You should also rehearse what youre going to say about it when the time comes. Thinking on your feet about something as important as this, or worse, praying that your future boss doesnt notice the charge-offs, closed accounts, and bankruptcies, is just plain dumb, says Weiss. members receive a 7-day free trial and save 20% on a monthly membership to FreeCreditScore.com, which offers credit monitoring, alerts, and fraud resolution. Check out Member Savings Section for full detailsSo, if youre worried about being asked for access to your credit reports during a job search, you have good reason its almost definitely going to happen. The key is to prepare ahead of time, know your right to refuse, offer an explanation of your financial situation and how you intend to re ctify it, and pull your own credit report BEFORE a potential employer does. When it comes to an employment background check, take some advice from the Boy Scouts and always be prepared.