If you've ever filed for bankruptcy, then the trustee in your case likely informed you that it would remain on your credit report for seven years after it was approved. Did you know that no matter if you file for bankruptcy or not, most debts are supposed to be erased from your credit report after seven years anyway though?
Your credit means everything. It's how you secure a loan to buy a car. It's how you qualify for a mortgage and it could even dictate whether you get a job or an apartment that you want to rent. Thus, you definitely want to know what's on your credit report and you should check it on a regular basis. But what if you find an inaccuracy on the report? What should you do then?
If you recently applied for a job or a loan only to be denied the opportunity because of an incorrect or outdated credit report, you understand the frustration that this brings. As a consumer, you have little control over what a credit report says about you, but credit reporting companies have the legal responsibility to report correctly.
As an employee or job seeker, you may be concerned about the type of information that future employers can find out about you from the use of background checks. While it is possible for employers to be able to access such information, there are laws in place to limit how and when third parties can access this type of information about you.
When you are applying for a new job, it is quite possible that your potential employer will want to know a lot about you as a person. They will want to know your previous working experience and they may also be interested in what your interests are outside of work in order to get a picture of who you are.
There have long been issues surrounding to what extent employers and potential employers should be able to look into the background of their employees. The Fair Credit Reporting Act (FCRA) puts forward many protections in this regard, preventing employers from conducting background checks without certain conditions from being present.
When you are applying for a job, you will take a good amount of time to prepare your resume, and you will want to make sure that you are presenting the best possible version of yourself. If you move to the interview stage of the application process, you probably thought a lot about what to wear, and how to talk about yourself so that you make a great impression.
When a person is applying for a new job, in addition to being subjected to a series of interviews and performance-related tests, it is likely that he or she will also be subjected to background checks.
Have you found that there are significant errors in your credit report, affecting your ability to get a personal loan, student loan or mortgage? This is an overwhelming situation because you may not even know where to begin to resolve this type of complicated issue, but it is not something that you have to face alone.