Patt Morrison for March 24, 2010

Is bad credit keeping you unemployed?

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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?

Guests:

Rep. Steve Cohen, D-Tennessee’s 9th District; Chairman of the House Subcommittee on Commercial & Administrative Law

Bruce McClary, spokesperson, Clearpoint Credit Counseling


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