Justin Sullivan/Getty Images
Bad credit = unemployment. The most vicious cycle.
It’s the ultimate Catch-22. You lost your job due to corporate downsizing, fell behind on a few bills, your credit took a hit and now you can’t get a job because your credit history is less than stellar. This is a vicious cycle one lawmaker hopes to break. Congressman Steve Cohen (D-Tenn) has introduced a bill that would prohibit employers from using credit checks during the hiring or firing process. Should employers be able to run a credit check on a potential employee and what do job seekers need to know if they don’t want their recession related bad credit to hamper their ability to get hired?
Rep. Steve Cohen, D-Tennessee’s 9th District; Chairman of the House Subcommittee on Commercial & Administrative Law
Bruce McClary, spokesperson, Clearpoint Credit Counseling