Seriously... Credit checking, prior to employment?

I just recently bought a house and I have filed bankruptcy. When I was talking to the loan officer about it I told him exactly what happened with my credit. After I filed bankruptcy I got my butt up and finished college, put myself in a position where I (hope) to not have to ever do it again and rebuilt my credit. No it isn't great but it is improving. All that stuff counts. I was so ashamed of myself when I filed but I think everyone goes through a point in their life when they mess up with their finances, its how you react to it that makes a difference.

 

i rebuild my credit all the time.

the economy dictates wether people pay there bills or not. no one can say otherwise.

i can't tell you how many times i cleaned up my credit. bought a vehicle to improve my credit. so i can SOME DAY buy a house. but then job goes to crap. economy goes to crap. vehicle gets repossesed. and there goes my credit.

everytime i get on my feet. i get knocked back down. i've given up on buying vehicles anymore. why bother.

finding a job with long term stability isn't exactly easy.

 

You don't need credit to buy a vehicle. Just save your money and buy a vehicle that you can afford to buy for cash. It is best to have good credit, but truthfully, unless you want to borrow money, you don't need good credit. It is difficult to pay cash for a house, but there are always ways to get along in life without having good credit.

 

you can't go living your life without credit either.

sorta.

if you want credit. there's 3 main ways to establish that.

credit cards, vehicle loans. and a mortgage.

there's tons of way to trash your credit. and the economy plays a big part in that.

i usually pay cash for a car. but there's only so much car one can buy. and does absolutely nothing for my credit. or help me get into a house.

 

Most employers in other industries do credit checks before hiring as well and it has been that way for a while....it does go to show decision making and financial responsibility of the individual. As a company owner you do not want to deal with garnishments or always having to advance drivers money on there check. It gets real annoying, real quick as an owner. If it was medical bills most companies will overlook that - the cell phone bill may be something you want to call Sprint and ask what they will settle for and start chipping away at. What is the plan - to just never pay it? Keep in mind the credit report shows them exactly what is in question as well.

 

me and Dave Ramsey have sworn off all types of credit, my life has been so much less stressful and peaceful

 

I was a small business owner and I would not hire anyone who had wage garnishments of any kind.
Reason?
The employer becomes the one who is liable if the employees garnishment schedule is not being met.
They give YOU the payment book and YOU have to make sure YOU make the payments or they drag YOU into court and fine you.
It's one more headache as a small business owner that you just don't need.
I had a couple of employees that lied to me about garnishments and I charged them a monthly "administration fee" once I found out (from the state or county), that I was in trouble for not paying for them - How was I to know if they didn't tell me? "Well they should have told you!"
So from the employer's perspective its fair and its not discrimination.

 

Some people think that everything, I mean EVERYTHING is "discrimination."

Get stopped for speeding? The cop is "discriminating against you," because he stopped you, while he didn't stop someone else.

Fail a subject in school because you were too lazy/stupid/doped up or whatever to study? Not your fault at all. The teacher is "discriminating against you."

Some people just will NOT take responsibility for their own actions, particularly ones that lead to unpleasant consequences.

 

You can live without credit. You can save your money until you can pay cash for what you want or need. You don't have to buy a house. You could rent. You could save your money and pay cash for a lot to build your house. You could then build your own house and pay as you go. I met a couple that was doing that very thing. You could buy or rent a lot and then buy an RV for cash and put it on the property. Some of the RV's that the taxpayers paid for the Katrina people can be purchased for as little as $2,500. It isn't fancy, but is a roof over your head. And, you won't be throwing money away on rent. Once you have the RV you can then start saving so that you can build or buy a real house. Just put away what you would have paid for rent or a mortgage payment and you will have enough to pay cash for your house. Start with a smaller house, save and buy something bigger, if that is what you want. There are many things we now consider necessities which were once thought to be luxuries. It is a matter of setting priorities and deciding what you want to do with your life and how you want to live.

Have you ever considered the cost of credit? When you buy something on credit you are paying a higher price than if you saved and paid cash. Most people won't pay off their credit card bill at the end of the month. Some credit card issuers have also gone to a 13 time billing cycle rather than 12. And you don't really need a debit or credit card, although they are more convenient. You could pay cash for an older car, save your money, then sell or trade the older vehicle for something newer. Living strictly on cash can be done. We used to call it "living within our means."

 

20% cash down will do wonders for a mortgage, credit or no.