Manns Medium

Many report about the unemployed and their trials and tribulations but one thing that they never mention often enough is a big factor in the numbers seemingly holding steady. There have been many reports detailing the jobs which currently exist but the number of applicants attempting to land that job. There have been many reports detailing the requirements for a particular job being more than the average person possess, so some have advocated re-training. All these are positive steps to reduce the unemployment rolls and excellent tools to get more people back to work but one item barely covered is this fascination of business to now use an applicant’s credit report as a factor in their decisions to hire. Below is an example of the effect of a bad credit report; “Thank you for your interest in the position of ________________at location 1440. We sincerely appreciate your interest in career opportunities with _______. Regretfully, we have decided to pursue other candidates at this ...

To many the words according to Ken Clark, a debt/credit expert and certified financial planner, are all but true.   He is quoted as saying that quite simply, your credit score summarizes your credit risk based on a snapshot of your credit standing at a particular point in time. It’s an overall assessment of your financial responsibility (Rate Nerd).   Then there are those who take on the view of the Manhattan Financial Group who states “t ypically, a person with a bad credit score is in this position because they lack structure in their life. There are, of course, cases where unplanned health or employment complications are to blame, but for the most part, these are individuals who lack the discipline to pay their bills on time or curb their spending.”   So who’s right or are they both correct? Origin To begin to understand the importance of this article we must first review. “ Equifax is the oldest of the three bureaus, having been founded in 1899 as Retail Credit Com...