Does My Boss Check My Credit Report?
July 8th, 2009, Written By: Kerri Randall
It may not come as a surprise to you that potential employers might check your credit report—it seems like everyone’s interested in your credit rating these days. So it seems fair to wonder if your boss checks your report after you’ve been hired. Depending on your line of work, the answer is probably yes.
If you hold a position that deals with money, valuables, sensitive information, and the like, your boss may periodically check your credit report. If your score is low or you continue to add negative history like late payments or defaulting on a loan, it may represent to your boss that you are not dependable. Right or not, you may appear more likely to steal cash or valuables in an attempt to catch up on debt, and if you are in a security or government position, your boss may not want to trust you with sensitive information.
No matter the reason, your boss does need your permission to run a credit check. If you are fired as a result of what is on your report, your boss is required to tell you so and provide you with a copy, an explanation, and the name of the bureau the supplied the report. You then have the right to file a dispute, particularly if the information used to justify letting you go was an error or otherwise incorrect.
The unfortunate fact is that by time the dispute is resolved, your old position may be filled. You might not find it to be a completely fair practice; hopefully your boss would consider outside forces and/or give you time to improve your score. Let this stand as one more reason to maintain a high credit score and check your credit report often: don’t let your boss blindside you.
Categories: Credit Score Information
