60% Of Employers Now Checking Job Candidate Credit Reports
Today, the Arizona Republic came out with a very interesting article. According to recent studies, 60% of employers are now checking the credit reports of job applicants.
As a Phoenix short sale realtor, the question I am most often asked is "Why do a short sale when I can just 'walk away'?" I think this article does a great job of explaining a very important issue that is often overlooked when explaining the advantages of a short sale vs foreclosure.
Personally, I look at a short sale as an attempt to work something out with the lien-holder. Simply "walking away" or filing for Chapter 7 bankruptcy shows little or no effort on the part of the homeowner, and should be looked at differently by not only employers, but future loan applications as well.
The article actually quotes someone who had filed a Chapter 13 bankruptcy, thinking that potential employers would look at her in a more "positive light", as she would be paying back her debts. Instead, despite having the highest test scores for a secretarial job she applied for, she was not chosen after disclosing her bankruptcy.
According to the article, while employers do not see actual credit scores, they are able to see current and past creditors, and whether a person has filed for bankruptcy or has had a foreclosure.
Anyway, the article can be found here, and is one that I plan on sharing with my clients from now on.
Summit Home Consultants
Copyright © By Bob Hertzog 2010 *60% Of Employers Now Checking Job Candidate Credit Reports*