Credit Reports Ratings
2010
credit report – defaults!!!!!!!?
Hi
I have 2 defaults on my acoount. One which is 3 yrs old and One which is quite recent. They are both settled now and paid off. It will remain on my credit file as settled default.
How badly would this affect my credit scoring. Other than these I have paid all my bills etc for the past 3 years on time with an exception of 2 or 3 late payments. this includes 3 mobile contracts etc.
I have a Job interview next week and they will check my credit ratings. do you think it will affect it badly??
14 hours ago – 3 days left to answer.
First of all the reason employers sometimes do a credit check is to see if you are reliable, and if you are stable. Credit reports include more than just your debts, they give info about where you have lived, who your spouse is where you worked they are looking to see if you owe lots of money if you have lots of debts and are applying for a job that won’t pay your bills some employers are worried that you may steal from them or will quit if you can find a better paying job.
There are usually four types of information:
Identifying Information: Your full name, any known aliases, current and previous addresses, social security number, year of birth, current and past employers, and, if applicable, similar information about your spouse.
Credit Information: The accounts you have with banks, retailers, credit-card issuers, utility companies, and other lenders (accounts are listed by type of loan, such as mortgage, student loan, revolving credit, or installment loan; the date you opened the account; your credit limit or the loan amount; any co-signers of the loan; and your payment pattern over the past two years).
Public Record Information: State and county court records on bankruptcy, tax liens, or monetary judgments (some consumer reporting agencies list non-monetary judgments as well).
Recent Inquiries: The names of those who have obtained copies of your credit report within the past year (two years for employment purposes).
job applicants have substantial legal protection concerning the use of credit reports for employment. In fact, an employer cannot obtain a credit report without an applicant’s written permission and cannot use it to deny a job until the applicant has had the chance to review the report
The job applicant must provide written authorization before an employer can request a credit report. Under the Federal Fair Credit Reporting Act (FCRA), an applicant has a series of additional rights. If an employer intends not to hire someone based upon information in the credit report, then the applicant must first receive a copy of the report and statement of rights. The applicant has a right to review the credit report and to dispute any information believed to be inaccurate or incomplete. This right applies even if the employer had additional reasons not to hire the person or even if an applicant has excellent credit, but the employer has other concerns based upon the credit report, such as a reported high debt level. It may be, for example, that the debt level is overstated in the report. If a final decision is made, an applicant is entitled to a second confirming letter. In California, job applicants must also be given the opportunity to request a copy of the report free of charge if the employer obtains it.
You can contact the credit bureau and ask them to add a comment on your report that is from you and you can explain what happened perhaps you lost your job and couldn’t pay etc. also ask why they need to do a credit report it shouldn’t matter what your credit history is unless you are looking for a loan etc. they aren’t allowed to take your credit score into consideration for employment.
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