Read this article recently that points out that many employers (perhaps you) are using the results of credit checks on job applicants to deny employment. It also reports that many states are considering putting severe restrictions on or eliminating this practice altogether. What does this mean for you?

If you have bad credit and are looking for a job…you may find it far easier to use your existing funds and credit lines to start a business rather than trying to find a job working for someone else. You have the added bonus of liking your new boss and staying in control of your work life.

If you are an employer…you should evaluate whether the results of a credit check actually tell you anything about an employee and reconsider your use of these checks at all. Logically, if the potential employee has the experience you require, seems to be a culture fit with your organization, and is eager to work for you, perhaps that is all you need to know. If they haven’t paid some debts in some time, it is actually unlikely that they will steal from you to pay them now.

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