Bad credit could cost you a job

Updated

Some people are being turned down for jobs because they have bad credit. Nearly half of all employers check credit reports to screen folks during the application screening process, according to the Herald of Monterey County.

That means that many unemployed folks who are struggling because of the recession may be viewed negatively by job recruiters.

"Companies ... want an insight into how an individual conducts their own life, because that's typically how they're going to conduct business inside your business," Mary M. Massad of personnel management company Administaff told the Herald.

But although checking credit reports gives a snapshot of a person's finances, it doesn't always give the whole story. For instance, how much are recruiters taking into account the fact that many people were paying their bills on time until they got laid off?

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