Unemployment rates continue to soar in America.
The job competition is rough and employers are able to take their time and evaluate their new hires with increasing scrutiny.
Some companies are basing their search for the right candidates on more than just resumes and qualifications.
They are also reviewing individual's credit report.
Your credit report is a map of your financial history.
It is an indicator of how well you have managed your debt and your financial responsibilities.
Some employers also see it as an indication of your character and work ethic.
If you have defaulted loans and unpaid credit accounts, employers may fear that you will ignore the important duties of your job as well.
Several employers even review their employees' credit reports when it comes time to evaluate someone for a promotion and or a raise.
So what can you do? You first need to know where you stand.
Checking your credit report is free and it only takes a few minutes.
By thoroughly reviewing your report you can identify any problematic areas or errors that may be negatively affecting your credit score.
If you find mistakes on your report, don't worry.
They are very common and can be easily removed.
Contact the credit reporting agency and find out what steps you need to take or documentation you need to provide to have the inaccurate information removed.
If you have negative areas on your credit report that may raise a red flag to potential employers you should take immediate steps to rectify those situations.
Try and pay down maxed out debts and start paying on any defaulted loans.
If a potential employer asks you to sign paperwork allowing them to review your credit report you may want to make mention in your interview process of the hardships that caused you to fall behind in the first place.
Perhaps extended periods of job loss or unexpected medical expenses are to blame.
By briefly discussing that in your interview you can give the employer some insight on your unique situation.