You know, I have tried to stick with pics of my kids for the most part, but I have noticed that I get a little more response on the blog with a good old fashioned political rant and rave :). So, if it makes your blood curl, at least you'll read.
Actually, this topic isn't one that has been in the headlines much, but I heard a report on NPR today how several states are trying to create laws that would ban employers from checking your credit. I thought about it and I am all for it. Then I wonder, is that constitutional? Should it be the employer's right? I don't know. Are we regulating business too much? I think it's fair to run a background check, but why the credit check? I am sure a good old fashioned credit check could be revealing, but is that fair? I think peoples opinion on this matter might be revealing to how they feel about money, so here is my "revealing" opinion.
You know, alot of people have gone down now with the bad market and my guess is there are more people with bad credit than ever. Can "bad money management" be a sign of bad character? Maybe, but before you jump to any conclusions let me offer this. Your choices being your own....up until recently highschool kids were bombarded with credit offers, and before many kids had a decent brain in their head, they could be off to bad habits...and to whose benefit? Why, the credit card companies. Their thinking was that hopefully the profits from people who tried to do the right thing and pay it off would outpay those that didn't. So, yes...it is a mistake and bad habit to get yourself in terrible debt you can't pay, but I think that there are alot of elements in our society that profit from leading people down that path sometimes....and before we lay all the blame on one persons shoulders, and deem them not fit for good employment...we should see the part that everyone plays.
Also, if anyone ones to sit comfortable on their laurels of "good credit", remember tragedy could be just around the corner for you and sometimes there just isn't enough of good luck, insurance and savings to necessarily save you. Divorce, bad health and so many unforeseens can blindside you and it happens to alot of people, maybe through no fault of their own. Some people it happens too because of bad choices that are frequently made. I can attest to that, I was a dumb young spendy 20 year old at one time, but would that make me a bad, oh I don't know, manager? I am not sure that is good. Hey check to see if I posted bad facebook pictures recently if you want to know my character....
So I think this is a good law. Credit can be part of the picture of someone, but it's hardly a fair judge in my opinion and I think if we allow credit companies to charge outrageous fees and we want to live in a consumer driven market, maybe we could send an olive branch to ourselves as citizens and not let credit stop someone from getting a good job, and a chance to pull out of unfortunate circumstances even if self inflicted.....
Ok, off my soap box now, anyone see it differently, come on Steph....we're sisters with usally two different points of view.
Monday, March 1, 2010
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7 comments:
Credit reflects the financial history of the person. When we audit a company we look for fraud, there is so much of it these days. We look at the opportunities a person has to steal, motivation they have and how they would justify it as being ok. A credit score reflects motivation and at times a way of justifying fraud. I think employers should be able to ask for a credit check. If they are smart they will rely on a lot of other factors that are probably better to determine a good employee but we shouldn't regulate wether they can ask for a credit check. If people don't like it they probably won't like other things about the company and should just look somewhere else. But that is just an accountants point of view.
Seth
I can see everyone's point of view. But, I think that we are regulated to death and think sometimes that we depend too much on the government to take care of us. What is wrong with getting to trust people but, then don't put them in control of YOUR finances.
I find it amusing how I am singled out in this one... Is it because of the state I live in is one of those that ban the credit report, or are you looking for debate, and know that I would normally respond? Because, if it's the latter, than I am tempted not to say anything, just to be defiant.
Honestly, though, I can see both sides of it. There are good people with bad credit and there are bad people with good credit.
If you want to argue for credit checks, here's something to consider from http://articles.moneycentral.msn.com/Banking/YourCreditRating/how-bad-credit-can-cost-you-a-job.aspx?page=2...
"All that said, a couple of late payments aren't going to kill your job prospects. Employers who care about credit histories typically look for serious negative marks, such as collection actions, repossessions, foreclosures and evictions. Some are wary of people carrying enormous debts or otherwise indicating they're living well beyond their means.
That's why, if you are asked to sign a paper allowing a potential employer to check your credit, Rath recommends taking the opportunity to explain the circumstances to the potential employer, especially if the problems have been resolved, were the result of a mishap beyond your control or could be fixed simply by being employed again.
"A well-intentioned employer is looking for signs of irresponsibility," Rath said. "They're not looking at credit histories as a way to screen out people who have been the victims of unfortunate circumstances."
Just thoughts, but I can definitely see both sides!
I'm with you Stacy. I don't see why it can't be used but I definitely don't think it should be the deciding factor.
PS All I read was ranting and no raving... You need to change the title of this post!
Something to think about. I do ask though do people have the right to be irresponsible? Some of us are at some point (is this to revealing?)...I think a credit history stays with you 10 years. I believe that responsability is a good trait, but aren't there young kids who need to learn a lesson? But... I am sure a good employer would be objective? I don't know, it's pretty competative out there. But if they had a couple of good candidates and had to decide on something, go with the guy with good credit? I don't know...is all I am saying, what info should people know about us in what situations? I think it's a topic we will face more and more in our information age.
Steph, I am supposed to be the defiant one :). What is a political rave? I thought I knew what rant and rave was, but maybe I don't.
I think that stating someone has a "right" to things is wrong. It's like saying I have the "right" to not take care of my child... Yes, that's a little bit of a stretch, but hopefully you see my point.
Yes, young kids need to learn lessons, and parents need to teach them those lessons BEFORE they enter the real world and learn them the harder way.
As far as the laws banning (which is really not the right word, "limiting" is more accurate) the credit reports, there are still exceptions when the credit check can be used such as "banks, law enforcement agencies and other businesses that can show credit checks are necessary to evaluate candidates for specific positions."
One point that Matt had heard on a radio show was the fact that there are a LOT of service people in the field. You let one into your house, and something comes up missing or your identity is stolen. Who are you most likely to sue? Yes, the person is in jail, but you're going after the company that hired him/her. A credit check could have revealed that this person was desperate for money. That employer could have passed on that potential employee, had they checked.
I'm STILL not saying that there aren't good people out there with bad credit that wouldn't do anything like that, and would deserve the chance. But in this day and age where crime (sadly) pays, and people are "sue happy," you have to protect yourself.
Just some thoughts to consider. Now that I keep having to argue with you, I'm starting to lean on the side of allowing them...
And a Rave is saying good things about something, "She raved about the taste of my awesome lemon cupcakes." I read nothing in the original post that was positive about the law.
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