Thank to the advance in technology, it becomes very easy for more companies look into your credit history report to make assessment on your job application. It is a way to check to find about your history of habits that may be transferring to your job; especially, when employment involves handling money and important trade secret. Those companies will have greater concern with security and theft. The federal law requires employers to secure job applicants' permission before accessing credit files. It is your decision between getting a good paying job and keep your spending habits secret. When you apply for a promotion in your job, your company will take a look into your credit history report in the assessment for promotion. Your personal information will no long personal in the age of advanced technology. What is on the report? This employment report includes much of the information about your loans and credit cards that is listed in your credit report. To protect your financial security and meet equal employment opportunity laws, all Experian employment reports omit your account numbers, year of birth and spouse references. Traditionally, the biggest users of credit reports for employment purposes are companies in the defense, chemical, pharmaceutical and financial services industries because of the sensitive positions many of their employees hold. Increasingly, other industries use the reports to serve as a general indicator of an applicant's financial honesty and personal integrity. Statistic shows Thirty-five percent of companies use credit checks in pre-employment screenings, up from 19 percent in 1996, according to a survey of 208 companies by the Society for Human Resource Management. About 41 percent of retailers said they used credit checks in pre-employment screening, according to the 2003 National Retail Security Survey, conducted by the University of Florida. About 10 percent of retailers plan to increase their use of credit checks in the coming year, putting it among the top five screening policies that retailers intend to ramp up, according to the study. What happens? You must sign a release, before the prospective employers can pull your credit history. The prospective employer will get a credit history report contained delinquencies, bankruptcies, judgments, liens and credit account such as mortgages, utility, credit card, and loans. It shows how responsible you are in your spending habits. However, the report will not tell about your age or marital status. If there are errors on your report, contact the creditor bureau that made the errors, dispute with credit bureaus until all the information is accurate. If there is adverse information on loans, credit card bills or bankruptcies on your report, don't your time on credit repair yourself; however, you should try professional help to help you. So be warned: you can't erase the truth from your credit file. Only time will erase the errors; most bad credit incidents will disappear from your record after seven years. If you are turned down for a job because of credit problems, the employer has to give you a copy of the report and explain your rights under the Fair Credit Reporting Act. However, it is not the end of the road yet, you can try applying for work with smaller companies where the hiring process is not involve credit check. Take responsible and build new trust with your employer as your new stepping stone to a new job. If all else fails, you may have to work in another field, clean up your act and wait for those ugly history reports to disappear. Johnny Saing is a Webmaster who has witnessed first hand the effects of credit report errors when he checked his own credit report. He is the publisher of Creditsknowledge.com. A website that provides articles on credit report: where to get your information on free credit report, disputing credit report errors, improve credit score and etc. Article Source:http://EzineArticles.com/?expert=Johnny_Saingcredit report - Bad Credit Mortgage - Tips on Securing a Bad Credit Mortgage Do you have a bad credit history and bad credit score? Do you think it is hopeless to attempt to secure a mortgage loan? It may be more difficult for you to secure a bad credit mortgage. In addition, you may have to pay higher interest rates and loan processing fees. However, there is still hope! Here are a few tips in securing a bad credit mortgage. First, you should order copies of your credit report from the big three credit reporting bureaus: Equifax, Experian and TransUnion. You can get them without cost through the "free annual credit report program" (simply put the previous words in quotes on a search engine and the federal trade commission (FTC) url for the free reports should be the first listing). Go through each report diligently and make sure there are no mistakes on the report. Sometimes mistakes can cause your credit score to be lower than it should be. If you find any mistakes, go to the applicable credit bureau's website and follow the directions on how to remove the mistakes and correct your credit report. Although the mistakes will be removed, it can take up to 6 - 8 weeks for your credit report to be updated, with a better score. Next, write a detailed explanation regarding why you had credit problems that caused your credit score to plummet. Also, write in detail about how you have recovered or are recovering from the credit problems. Include in your explanation how you will be able to afford the mortgage payments. Give as much detail as possible. Many banks and mortgage lenders review each mortgage application on an individual basis. Search for a mortgage broker that specializes in bad credit mortgage loans. Alternately, you can use an online mortgage quote service that will help you find up to four different mortgage loan lenders with rate quotes that you may compare. Even though you may have received quotes from mortgage lenders or brokers, do not agree to further actions or actually send a "good faith" payment until you have researched the company in-depth online. Numerous bad credit mortgage lenders and brokers have horrible reputations for taking people's "good faith" money and not following up with the paperwork or the processing of the loan. Many of these mortgage lenders with poor reviews take advantage of people with bad credit and are desperate to secure a bad credit mortgage Be prepared to pay a higher interest rate and somewhat higher processing fees. But, again, before agreeing to the mortgage rate and/or processing fees, it is recommended you research interest rates and fees online. If the quotes seem outlandishly higher, then find another mortgage lender or broker. Numerous mortgage lenders or brokers will work with people who have a bad credit history and credit score. Therefore, not all hope is lost in securing a bad credit mortgage. It just takes a little more time to find the right lender. |
Friday, October 26, 2007
credit report - Your Credit History Effects Your Employment
credit report - Bad Credit Mortgage - Tips on Securing a Bad Credit Mortgage
Do you have a bad credit history and bad credit score? Do you think it is hopeless to attempt to secure a mortgage loan? It may be more difficult for you to secure a bad credit mortgage. In addition, you may have to pay higher interest rates and loan processing fees. However, there is still hope! Here are a few tips in securing a bad credit mortgage. First, you should order copies of your credit report from the big three credit reporting bureaus: Equifax, Experian and TransUnion. You can get them without cost through the "free annual credit report program" (simply put the previous words in quotes on a search engine and the federal trade commission (FTC) url for the free reports should be the first listing). Go through each report diligently and make sure there are no mistakes on the report. Sometimes mistakes can cause your credit score to be lower than it should be. If you find any mistakes, go to the applicable credit bureau's website and follow the directions on how to remove the mistakes and correct your credit report. Although the mistakes will be removed, it can take up to 6 - 8 weeks for your credit report to be updated, with a better score. Next, write a detailed explanation regarding why you had credit problems that caused your credit score to plummet. Also, write in detail about how you have recovered or are recovering from the credit problems. Include in your explanation how you will be able to afford the mortgage payments. Give as much detail as possible. Many banks and mortgage lenders review each mortgage application on an individual basis. Search for a mortgage broker that specializes in bad credit mortgage loans. Alternately, you can use an online mortgage quote service that will help you find up to four different mortgage loan lenders with rate quotes that you may compare. Even though you may have received quotes from mortgage lenders or brokers, do not agree to further actions or actually send a "good faith" payment until you have researched the company in-depth online. Numerous bad credit mortgage lenders and brokers have horrible reputations for taking people's "good faith" money and not following up with the paperwork or the processing of the loan. Many of these mortgage lenders with poor reviews take advantage of people with bad credit and are desperate to secure a bad credit mortgage Be prepared to pay a higher interest rate and somewhat higher processing fees. But, again, before agreeing to the mortgage rate and/or processing fees, it is recommended you research interest rates and fees online. If the quotes seem outlandishly higher, then find another mortgage lender or broker. Numerous mortgage lenders or brokers will work with people who have a bad credit history and credit score. Therefore, not all hope is lost in securing a bad credit mortgage. It just takes a little more time to find the right lender. By Anne Dixon, Copyright 2007. Anne Dixon writes about many different subjects including personal credit issues. For more information & tips regarding securing a Bad Credit Mortgage please see http://www.motgage.biz Article Source:http://EzineArticles.com/?expert=Anne_Dixoncredit report - How to Improve Your Credit Score In today's world having good credit is an absolute must. Credit is no longer for simply buying items today and paying for them later. Now, credit is used to validate who you are as a person and your worth. Credit scores are utilized daily in life. By following some simple rules, you can keep your credit score at its highest points. Understand that your credit score is a living and breathing animal. It is ever changing and has its up days and down days. Perhaps your credit score is 600 right now. Tomorrow it could be 595 and next week 615. The smallest detail can change your score for better or worse. Utilization This is the big killer for most people. Utilization basically means the amount of your total credit ability you are actually using. Here is an example breakdown: You have (5) credit cards with a total combined credit line of $10,000. You currently owe $3,000. You are using $3,000 of your $10,000 maximum thus your utilization is 30%. The goal is to keep your utilization under 30%. A high utilization can destroy your credit score. In fact, I have personally seen a high utilization cost a person about 100 points. One hundred points is huge. To keep your utilization low, you want to do two things. 1. The first is pretty obvious'Don't use too much of your credit. 2. Next, work to increase your credit lines. Bug your creditors constantly for credit line increases. Some allow you to request credit increases every so often and some are automatic. Always work to increase your credit lines. Inquiries There are two types of credit inquiries'Soft and Hard. Soft inquiries don't affect your credit rating at all. Soft inquiries are generally created when you view your own credit report and other minor requests. A hard inquiry can hurt your credit score. When you apply for credit, a hard inquiry is usually created. Typically one or two inquiries in the past six months won't harm your score, but more than this will start taking your score down. Also some potential creditors will look at how many inquiries you have in the last six to twelve months. If you have more than one or two, you might be denied credit. The moral here is to only apply for credit when you are pretty sure of being approved and when you need it for personal or credit building reasons. Accuracy The last thing to do is make sure all your credit data is correct. Most credit reports have errors on them and you can indeed have information changed and even removed. To find out how, visit CreditLiberty.com, which is a credit repair information website. If you have false late payments, incorrect credit lines, incorrect credit balances, incorrect account types or payment history mistakes, your credit score will be reduced. You owe it to yourself to check your credit report with Experian, Equifax and Trans Union very often. At the very least, check your credit report twice per year and always check it before you apply for credit. In fact, you should check it well in advance because correcting information on your credit report normally takes about 30 days. Copyright 2005 JakeTruman.com |
credit report - How to Improve Your Credit Score
In today's world having good credit is an absolute must. Credit is no longer for simply buying items today and paying for them later. Now, credit is used to validate who you are as a person and your worth. Credit scores are utilized daily in life. By following some simple rules, you can keep your credit score at its highest points. Understand that your credit score is a living and breathing animal. It is ever changing and has its up days and down days. Perhaps your credit score is 600 right now. Tomorrow it could be 595 and next week 615. The smallest detail can change your score for better or worse. Utilization This is the big killer for most people. Utilization basically means the amount of your total credit ability you are actually using. Here is an example breakdown: You have (5) credit cards with a total combined credit line of $10,000. You currently owe $3,000. You are using $3,000 of your $10,000 maximum thus your utilization is 30%. The goal is to keep your utilization under 30%. A high utilization can destroy your credit score. In fact, I have personally seen a high utilization cost a person about 100 points. One hundred points is huge. To keep your utilization low, you want to do two things. 1. The first is pretty obvious'Don't use too much of your credit. 2. Next, work to increase your credit lines. Bug your creditors constantly for credit line increases. Some allow you to request credit increases every so often and some are automatic. Always work to increase your credit lines. Inquiries There are two types of credit inquiries'Soft and Hard. Soft inquiries don't affect your credit rating at all. Soft inquiries are generally created when you view your own credit report and other minor requests. A hard inquiry can hurt your credit score. When you apply for credit, a hard inquiry is usually created. Typically one or two inquiries in the past six months won't harm your score, but more than this will start taking your score down. Also some potential creditors will look at how many inquiries you have in the last six to twelve months. If you have more than one or two, you might be denied credit. The moral here is to only apply for credit when you are pretty sure of being approved and when you need it for personal or credit building reasons. Accuracy The last thing to do is make sure all your credit data is correct. Most credit reports have errors on them and you can indeed have information changed and even removed. To find out how, visit CreditLiberty.com, which is a credit repair information website. If you have false late payments, incorrect credit lines, incorrect credit balances, incorrect account types or payment history mistakes, your credit score will be reduced. You owe it to yourself to check your credit report with Experian, Equifax and Trans Union very often. At the very least, check your credit report twice per year and always check it before you apply for credit. In fact, you should check it well in advance because correcting information on your credit report normally takes about 30 days. Copyright 2005 JakeTruman.com Jake Truman is a Real Estate & Stock investor and Credit informer. Website: Real Estate (JakeTruman.com). He has a Credit Repair Information website at CreditLiberty.com. Article Source:http://EzineArticles.com/?expert=Jake_Trumancredit report - Tips for Improving Bad Credit Do you suffer from bad credit? There are many options you have to help improve your bad credit. The first thing you need to do is stop spending more than you make. This is often the hardest thing you can do. Sometimes are jobs are not enough to cover the bills let alone provide us with food during the week; however if at all possible you need to get rid of the credit card debt you may have. There are assistance programs you can apply for if you are not making enough to pay your monthly expenses. You may also need to look at your monthly expenses and reduce those that you can. This can mean getting rid of cable, satellite TV, or even the Internet until you have a better paying job. Once you have your monthly expenses under control you can look at places such as Lexington Law. Lexington Law is one of many companies that can help you remove items from your credit report. These items must be paid off, and be older than a year. It will take a while before all the bad credit reports on your credit history can be removed, but hiring a company like Lexington Law is about the only way you can improve your bad credit. Just writing to the credit agencies and the companies on your credit report will not remove them. They will just place the bad items back on your report. Those companies that offer to fix your bad credit in no time are another area to stay away from. Yes, they may get bad items removed, but in six months the items will be back on the report. When you are on the road to mending your bad credit you may decide to keep your credit cards with no balance on them. Having this credit line will help increase your credit score as long as you do not have a balance on them. |
credit report - Tips for Improving Bad Credit
Do you suffer from bad credit? There are many options you have to help improve your bad credit. The first thing you need to do is stop spending more than you make. This is often the hardest thing you can do. Sometimes are jobs are not enough to cover the bills let alone provide us with food during the week; however if at all possible you need to get rid of the credit card debt you may have. There are assistance programs you can apply for if you are not making enough to pay your monthly expenses. You may also need to look at your monthly expenses and reduce those that you can. This can mean getting rid of cable, satellite TV, or even the Internet until you have a better paying job. Once you have your monthly expenses under control you can look at places such as Lexington Law. Lexington Law is one of many companies that can help you remove items from your credit report. These items must be paid off, and be older than a year. It will take a while before all the bad credit reports on your credit history can be removed, but hiring a company like Lexington Law is about the only way you can improve your bad credit. Just writing to the credit agencies and the companies on your credit report will not remove them. They will just place the bad items back on your report. Those companies that offer to fix your bad credit in no time are another area to stay away from. Yes, they may get bad items removed, but in six months the items will be back on the report. When you are on the road to mending your bad credit you may decide to keep your credit cards with no balance on them. Having this credit line will help increase your credit score as long as you do not have a balance on them. Written by Angela Amerson. Find more information on Bad Credit Repair at Dirty Bad Credit Article Source:http://EzineArticles.com/?expert=Angela_Amersoncredit report - Tips for Improving Bad Credit Do you suffer from bad credit? There are many options you have to help improve your bad credit. The first thing you need to do is stop spending more than you make. This is often the hardest thing you can do. Sometimes are jobs are not enough to cover the bills let alone provide us with food during the week; however if at all possible you need to get rid of the credit card debt you may have. There are assistance programs you can apply for if you are not making enough to pay your monthly expenses. You may also need to look at your monthly expenses and reduce those that you can. This can mean getting rid of cable, satellite TV, or even the Internet until you have a better paying job. Once you have your monthly expenses under control you can look at places such as Lexington Law. Lexington Law is one of many companies that can help you remove items from your credit report. These items must be paid off, and be older than a year. It will take a while before all the bad credit reports on your credit history can be removed, but hiring a company like Lexington Law is about the only way you can improve your bad credit. Just writing to the credit agencies and the companies on your credit report will not remove them. They will just place the bad items back on your report. Those companies that offer to fix your bad credit in no time are another area to stay away from. Yes, they may get bad items removed, but in six months the items will be back on the report. When you are on the road to mending your bad credit you may decide to keep your credit cards with no balance on them. Having this credit line will help increase your credit score as long as you do not have a balance on them. |