Most people who need financial help in Lethbridge have concerns about their credit reports at the top of their list. We live in a world driven by credit and the thought of a credit report ruined by financial troubles sends many residents off looking for help.
What few know is that there is a new issue affected by negative credit reports – job search. Unless you have held the same job for decades, you know that criminal background checks are a normal part of the pre-employment screening process.
Now, in addition, an increasing number of employers are adding credit checks to the process. This is a practice once restricted to financial industry employers but its use has spread to all types of companies.
Experts have yet to come up with a precise list of reasons why contemporary employers are willing to pay for the expense of conducting a credit check. Some suspect it is a way for employers to verify other information on an employment application.
Others feel employers think a negative credit history is an indicator of poor organizational skills at best, and bad judgment and unreliability at worst. Employers can reject an application based on a credit check, but applicants do have the right to demand the reasons for the rejection from the employer.
In short, you now have a new reason to be concerned about the health of your credit report – future employment. You can get professional financial help in Lethbridge from reputable credit counselors or bankruptcy trustees, but there are several things you can do to help yourself on your own.
The first is to get copies of your credit reports from both of Canada’s credit reporting bureaus and ensure everything there is accurate and up to date. You have a right to dispute inaccurate information and get it corrected. You also have the right to include letters of explanation in your credit report. The Financial Consumer Agency of Canada (FCAC) website has some helpful information on how to do this.
Although including a letter explaining how you came to your financial troubles is a good idea, if not coupled with documented measures to deal with your debts, it is pointless. If an employer sees a continuing history of payments 90 or 120 days late and no evidence of contact with creditors to remedy the situation, what do you think that says to them?
If you are deep in debt, the most important thing you can to do to help your job search and credit report prospects in the future is to get the financial help in Lethbridge you need to come up with a solution right now.
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