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Bad credit can affect your ability to get more credit. Did you know it also can affect your ability to get or keep a job? Employers often use a credit report when they hire and evaluate employees for promotion, reassignment, or retention. According to the Fair Credit Reporting Act (FCRA), which is enforced by the Federal Trade Commission (FTC) and your state Attorney General, an employer must get your permission to look at your credit report. If you don’t get a job because of information in your report, the employer must show you the report and tell you how to get a copy from the consumer reporting company. There is no charge for the report if you request it within 60 days of getting notice that you did not get the job. The FCRA requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. To order your free annual report from one or all national consumer reporting companies, call toll-free 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348-5281. Do not contact the three nationwide consumer reporting companies individually. They provide free annual credit reports only through 877-322-8228, and Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348-5281. According to the FCRA, both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To protect your rights under the law, contact both the consumer reporting company and the information provider to dispute any information. Checking your credit report and disputing incorrect information is the only way to get rid of the negative information. You may not even know that there is negative information on your report until you order your free copy. The negative information may also cause you to not qualify for a credit card or even a home mortgage. And, some companies run credit checks to see if you qualify for insurance. Credit report checking is getting more and more important especially with all of the foreclosures on homes, people filing for bankruptcy, and the government getting involved in overseeing financial firms. It will be harder and harder to establish credit and get approved for anything that you want to "buy now and pay later". And, now it may cost you a job. Keep your credit report clean by paying your credit card bills on time and making your mortgage payments. If you cannot make a payment or fall behind, contact the lender immediately and work out some kind of plan. Your credit report may be all that is standing between you and the perfect job.
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