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Partner Manesh Rath Quoted in Article on Credit Scores and Employment
Partner Manesh Rath Quoted in Article on Credit Scores and Employment
Keller and Heckman Partner Manesh Rath was quoted in a July 14, 2011 article in The Fiscal Times on the impact of low credit scores. The article, titled, "The Three-Digit Number that Can Wreck Your Life," points out that, due to the recent recession, more than 25% of consumers now have credit scores below 600, as opposed to 15% before the recession. The expanded use of credit scores beyond the financial services industry could mean higher interest rates, increased difficulty in finding a job, and possible rejection by a landlord for those with lower scores, according to the article.
The use of credit reports by potential employers allows them to get a sense of an applicant's level of responsibility, Mr. Rath explained in the article. "Well-intentioned employers are not looking to screen out good applicants because their credit data have been damaged due to job loss, unexpected financial disasters, or medical issues."
The use of credit reports by potential employers allows them to get a sense of an applicant's level of responsibility, Mr. Rath explained in the article. "Well-intentioned employers are not looking to screen out good applicants because their credit data have been damaged due to job loss, unexpected financial disasters, or medical issues."