Date: Jul 20, 2011
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."