Thursday, 21 June 2012

Recruiters Checking Your Credit Health before Appointing You

If you feel your credit health is important for your potential creditors and loan providers only then you are not aware of the fact that your financial crunches can affect your job opportunities as well. Now role of credit reporting agencies have become more crucial in people's working life. Most of the reputed recruiters nowadays prefer to know about credit health of its employees before hiring them. It has been found that employees who are under financial crunches show less interest in their work and thus, their overall performance and productivity is suffered.

Credit reporting agencies collect a large amount of data in relevance to people's debts, income level, payment history and access to additional credit to calculate scores that reflect their credit health. A high credit show reflects low loan default risk. It is assumed that if a person had defaulted on his financial obligations or bankruptcy, he might repeat it in the future. On the other hand, if you have maintained healthy debt to income ratio, the chances of your future default on debt are less. Thus, your past credit record becomes a testament to your responsible management. These records are generally accessed by your prospective creditors, banks and potential employers to take decision to offer you a mortgage, credit card or a job. Most of the reputed organizations access such reports to evaluate a person's personal skills and financial condition before recruiting him for a particular job. Thus, if you want to serve good organizations, it is not enough to have educational skills, you should have skills to rectify credit and manage sound financial position to be suitable candidate for any job.

Monday, 4 June 2012

How important it is to be Credit Healthy

A sound credit history can be your most precious financial assets. If your credit health shows that you had been prudent in paying off your debts, you will not only be able to qualify for credit whenever you need it, you will also be able to borrow money at the lower interest rate. Lenders use these credit reports to evaluate your ability to repay, your character and any adjunctive to take a decision to entrust you money. These ratings are also used by debt financing firms, investment banks and dealers to know your credit potential. If you find that there are discrepancies in your credit report but neither have time nor knowledge how to remove name from CIBIL defaulters list, it is better to hire an experienced and professional credit repair agency.

By delegating responsibility of eliminating errors from your credit report into the hands of professionals, you can utilize your time and efforts in completing your other essential tasks. Also, professional firms make sure that your credit repair process is completed without any procrastination by taking immediate action on all procedural formalities. There are many who believe to take help of professional credit repair agency at-least once in a life time so as to understand all the procedures and tricks to eliminate problems with CIBIL report as well as to understand the procedure so next time, they can do it themselves.