Tag: Credit Check

Bankruptcy Law, Credit, Timothy Kingcade Posts

What’s Not on Your Credit Report May Hurt You

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Everyone worries about their credit score and what’s on their credit report, particularly when they are about to make a big purchase such as a car or a home. However, the things that are not on your credit report can be just as harmful as what is. There are several ways that good credit references, such as secured cards and bank loans paid on time, can help your credit:

Accentuate the positive. Positive payment history can be the best thing for your credit score. However, many people do not realize that one of the things credit scores take into account is the proportion of positive and negative items. For example, even if you have negative information on your report, having more positive information can offset the negative.

Length of credit history. Your credit score considers the age of all of your accounts. Even older accounts such as a paid-off mortgage can help your credit score for years to come.

Credit mix. Credit scores also take into account the different types of credit you have. It is best to have both installment and revolving accounts listed on your report.

Missing the good stuff. Not all lenders report their customers’ payment histories to credit-reporting agencies. This can be harmful to your credit score, because many report only negative information. Unfortunately, there is nothing you can do to force a lender to report your account, you just have to continue good bill-paying habits until they begin showing up on your credit report.

Click here to read more about the missing information on your credit report and how it may hurt your credit score.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Credit, Timothy Kingcade Posts

One in Ten People Denied Jobs Due to Employer Credit Checks

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A recent survey from Demos found that one in four unemployed people were required to go through a credit check when applying for a job. The survey also found that one in ten people were denied employment due to information on their credit report. The survey was conducted on 1,000 low and middle-income households. Most people believe credit checks are only required when applying for senior level positions; however, the study found that credit checks are commonly used for entry-level or low-paying positions as well. It is likely that some workers denied a position due to their credit score have errors on their report. According to the Federal Trade Commission, one in five consumers has an error on their credit report.

Demos also surveyed the reason for bad credit and found that two common factors for bad credit scores are unemployment and the loss of health insurance. The report attributes many of those with bad credit to poor misfortune and a suffering economy and says little of how these people would perform at work. The survey also found that minorities are affected more by these credit checks than white households. African-American households had an average unemployment rate of 14% at the end of 2012 and Hispanic households had an average of 10%. These are much higher than white households, which were at 6% at the end of 2012, according to the Economic Policy Institute.

To read more on this story visit: http://money.cnn.com/2013/03/04/pf/employer-credit-checks/index.html

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.