Employers, especially the government, look up your credit report before they take you in. In the private sector about 35% of the companies the HR departments ask for the report. It is not only to find your track records of your finances, but also for cross-checking details given in your resume. For example, if you say in the resume that you had your education at a particular place during a period and credit report gives an address far away from that place for the same period, they will infer that there is something factually wrong in the resume. If the job offer is for a sensitive position you run a risk of being rejected for lying in the resume.

Some HR personnel are of the opinion that the credit report gives an insight into the person’s attitude towards his or her credit responsibilities. Some employers argue that they check the credit record for the purpose of identification of the person. Checking the name, address and date of birth on the credit report and comparing them with other records will ensure the identity of the person. They are of the opinion that it is not a check on the eligibility of the person for the job. Some employers in the financial sector, like insurance, banking, accounting and credit card companies, insist that a credit report check is absolutely necessary for verifying the desirability of employing the candidate.

In any case, people with a history of bankruptcies and huge debts are real risks for employers. They are liable to resort to desperate acts when confronted with some financial crises. It is only fair to disclose it to the candidate if a credit check is conducted. If adverse decision is taken, the employer must give an opportunity to the person to explain his or her side.

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