All Articles Tagged "credit history"
Is Credit Counseling Just as Bad as Bankruptcy
(Bankrate) — Credit counseling. Credit counseling is an alternative to bankruptcy. With credit counseling, you make a monthly payment to one company, which in turn pays your creditors. Credit counseling agencies are nonprofit organizations, and you can find one near you on the websites of the National Foundation for Credit Counseling, or NFCC, and the Association of Independent Consumer Credit Counseling Agencies, or AICCCA.
Suit Claims Use of Credit History Hurt Black Jobseekers
(New York Times) — Sending a sharp warning to employers nationwide, the Equal Employment Opportunity Commission sued the Kaplan Higher Education Corporation on Tuesday, accusing it of discriminating against black job applicants through the way it uses credit histories in its hiring process. The lawsuit, an unusual intervention by the federal government on the issue, comes amid rising concerns that employers are denying jobs to applicants with damaged credit histories, even in cases where creditworthiness does not appear to be directly relevant to the job.
Time, Effort Can Rebuild Credit After Foreclosure
(The Network Journal) — If you’ve been through a foreclosure, you may wonder if there is hope for you to become a homeowner again. Yes, but it will take awhile. “It doesn’t mean you’ll never be a homeowner again,” said Linda Davis-Demas, director of housing at Consumer Credit Counseling Service of Greater Dallas. But you’ll need to examine what caused you to fall behind on your mortgage and take steps to fix the problem.
Fed Unveils Consumer Guide To Credit Scores Ahead Of New Rules
(Wall Street Journal) — The U.S. Federal Reserve unveiled an online consumers’ guide to credit scores and credit reports. The straight-forward guide includes the basics: What a credit score is, how it is used and why it is important to protect your credit history. But what is perhaps more significant is what that guide is meant to complement—new consumer-protection rules that Congress signed off on about seven years ago that are finally set to take effect in January. Much attention is being paid to the raft of new financial rules U.S. regulators are set to implement as part of the financial overhaul known as the Dodd-Frank Act, which was enacted earlier this year.
Credit History Can't Be Used Against Job Applicants
(Chicago Sun Times) — People with bad credit will have one less thing to worry about when they’re looking for a new job in Illinois. Gov. Quinn signed a new law Tuesday that prohibits employers from using a person’s credit history when applying for most jobs. Credit checks can be required of applicants to jobs in banking and insurance because they have access to confidential financial information. There are other exceptions as well. Quinn says the bill aims to prevent employers from discriminating against would-be workers because they have bad credit in a tough economy.
