| MR. DUE DILIGENCE |
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| DUE DILIGENCE: CREDIT WORTHY? |
DATE: MAY 2009
Due is on yet another job search. This time he has decided to try a different industry and has
been applying at various financial institutions. Credit Worthy Bank recently received his
resume and background investigation consent form. As a client of Commercial Investigations,
Credit Worthy Bank had requested a background investigation which will include a credit report
in addition to criminal history and other inquiries.
Why would an employer want to run a credit report on a prospective employee such as Due?
He seems like an intelligent, honest, and responsible individual. He came to his interview on
time, he was prepared and he was dressed appropriately. Truth be told, a credit report can be
a very responsible tool when trying to determine a prospective employee’s personal
responsibility. The credit report can be used to make intelligent hiring and promotional
decisions. A credit report is a must if an employee will be handling money or if the person will
be put in a position of financial trust with high responsibilities.
The fact is, many employers don’t run credit reports and are putting their own company’s
reputation and financial stability at risk. The fact is, there is a correlation between those with
adverse credit reports and the possibility of employees embezzling money from an employer.
Logic says that a person who is having problems with their own personal finances may at some
point succumb to the temptation to steal another’s valuables. More importantly, he who cannot
handle his personal finances should not be put in a position to handle your business’ finances
either.
A credit inquiry will reveal several things about a prospective employee such as financial
status, debt, and potential debt. It’s a record that goes back many years and it shows how
financially responsible a person can be. A credit report will show the true character and history
of an applicant. It will also list any aliases an applicant may have as well as bankruptcies, liens,
judgments, loans, credit cards, collections and payment patterns.
An inquiry into Due’s credit report will show that he has a number of delinquent accounts and
loans with one account assigned to a collection agency. Due also has non-satisfactory ratings
on many accounts. The public records portion of the report shows that there was a $1,200
judgment placed against him and that he filed for Chapter 13 bankruptcy. Due’s credit report
also reveals his most recent address along with his most recent place of employment. Using
this information an employer would be able to determine that Due may not be the best
candidate for a position that requires the handling of money. Due poses a significant risk to
the financial stability and wellbeing of a company due to his irresponsibility with his personal
finances; but, a company that does not run a credit report wouldn’t have knowledge of the risk
they’re going to be taking.
In addition to Due’s adverse credit report, the background investigations report prepared by
Commercial Investigations for Credit Worthy Bank shows his criminal record which includes his
registration as a sex offender.
Obviously, Credit Worthy Bank will not be extending a job offer to Due. To see a copy of Due’s
background investigation report including his credit report go to: www.
commercialinvestigationsllc.com/duespage.html and click on View Due’s May 2009 Report.
Looks like Due will need to move on once again. But where to . . .
TO BE CONTINUED . . .
WILL THE JOB HUNT EVER END?
been applying at various financial institutions. Credit Worthy Bank recently received his
resume and background investigation consent form. As a client of Commercial Investigations,
Credit Worthy Bank had requested a background investigation which will include a credit report
in addition to criminal history and other inquiries.
Why would an employer want to run a credit report on a prospective employee such as Due?
He seems like an intelligent, honest, and responsible individual. He came to his interview on
time, he was prepared and he was dressed appropriately. Truth be told, a credit report can be
a very responsible tool when trying to determine a prospective employee’s personal
responsibility. The credit report can be used to make intelligent hiring and promotional
decisions. A credit report is a must if an employee will be handling money or if the person will
be put in a position of financial trust with high responsibilities.
The fact is, many employers don’t run credit reports and are putting their own company’s
reputation and financial stability at risk. The fact is, there is a correlation between those with
adverse credit reports and the possibility of employees embezzling money from an employer.
Logic says that a person who is having problems with their own personal finances may at some
point succumb to the temptation to steal another’s valuables. More importantly, he who cannot
handle his personal finances should not be put in a position to handle your business’ finances
either.
A credit inquiry will reveal several things about a prospective employee such as financial
status, debt, and potential debt. It’s a record that goes back many years and it shows how
financially responsible a person can be. A credit report will show the true character and history
of an applicant. It will also list any aliases an applicant may have as well as bankruptcies, liens,
judgments, loans, credit cards, collections and payment patterns.
An inquiry into Due’s credit report will show that he has a number of delinquent accounts and
loans with one account assigned to a collection agency. Due also has non-satisfactory ratings
on many accounts. The public records portion of the report shows that there was a $1,200
judgment placed against him and that he filed for Chapter 13 bankruptcy. Due’s credit report
also reveals his most recent address along with his most recent place of employment. Using
this information an employer would be able to determine that Due may not be the best
candidate for a position that requires the handling of money. Due poses a significant risk to
the financial stability and wellbeing of a company due to his irresponsibility with his personal
finances; but, a company that does not run a credit report wouldn’t have knowledge of the risk
they’re going to be taking.
In addition to Due’s adverse credit report, the background investigations report prepared by
Commercial Investigations for Credit Worthy Bank shows his criminal record which includes his
registration as a sex offender.
Obviously, Credit Worthy Bank will not be extending a job offer to Due. To see a copy of Due’s
background investigation report including his credit report go to: www.
commercialinvestigationsllc.com/duespage.html and click on View Due’s May 2009 Report.
Looks like Due will need to move on once again. But where to . . .
TO BE CONTINUED . . .
WILL THE JOB HUNT EVER END?
COMMERCIAL INVESTIGATIONS LLC
