Could Changes to Credit Reporting Boost Your Credit Scores?
Beginning in July 2017, millions of Americans could see an increase in their credit scores as the TransUnion, Experian, and Equifax, the three major credit agencies, drop tax liens and civil judgments from their reports.
FICO says about 12 million of the 200 million credit consumers will see an increase of about 20 points. This is good news for consumers because credit scores are used almost ubiquitously by everyone to indicate credit worthiness.
Why are the companies no longer including this information?
These changes are occurring as a result of a settlement with lawmakers in more than 30 states. The officials found the alleged liens and civil judgments were frequently attached to the wrong people, thus hurting their credit access for a home or car. Since liens and judgments represented major derogatory events, the fall off of this category could make a huge difference for some.
So, as of this month, if the lien or judgment fails to match three out of four criteria, it will no longer appear on the credit report.
As a result of these changes, look for new oversight of credit reporting agencies by the Consumer Financial Protection Bureau as the new rules are enforced. Possible, too, credit lenders may become more stringent in their practices since they will now have less assurance that consumers can pay back the borrowed monies.
An agency such as Data Screening.com can provide accurate credit reporting. A professional agency bases its reputation on the accuracy of reporting structures according to federal and state mandates.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the ASA(American Staffing Association), SHRM (Society for Human Resource Management) and the NAPBS (National Association of Professional Background Screeners). How may we help you today?
True or False Quiz: Can Landlords Prevent Defaults on Rent?
As a landlord, you may think you have all the information you need to keep your rental business on the up and up while protecting yourself and your assets. Let’s see how you do with this simple quiz.
T or F: The landlord is always right no matter the tenant’s argument.
False. There are two sides to every coin, so to speak. When the subject is arrears in rent, both the landlord’s and tenant’s sides must be examined. Though the rent must be paid, many states are pro-tenant in anti-discrimination suits. It’s good to have a legal contract in place that protects the rights of both parties, and if necessary, pursue legal action.
T or F: A tenant can move out completely without notice should she/he feel unsafe in the rental property.
True. It is incumbent upon the landlord to provide a shelter free of serious defects which could be harmful to the health or safety of the tenant. And some states permit the tenant a right of cancellation. However, the tenant must inform the landlord in writing and allow him/her to repairs the problem in a reasonable amount of time. Further, a tenant who wishes to cancel a lease should seek legal or appropriate governmental agency advice to ensure the conditions are severe enough to warrant vacating.
T or F: An artistic tenant has painted the walls with a textured paint in one room, a blackboard paint in another and applied wallpaper in another. The tenant has now given proper notice according to lease requirements and has moved out. Do you refund the tenant’s security deposit in full?
It depends. Did the tenant improve the property? Leases usually include a limited covenant to possessory interests. If tenants wish to have their security deposit returned, most statutes say they must leave the premises in move-in condition. However, some tenants agree in writing to update, personalize or decorate a property upon leasing.
This quiz’s purpose points out the need for thorough data screening and consideration by both parties before renting. No renter should enter an agreement without reading the lease or viewing the property. And no landlord should rent without a complete data screening of the applicant.
A professional agency such as Data Screening can assist you with a thorough background check for your rental applicant. Learn as much as you can to protect your investment and keep everyone’s mind at peace.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the New Jersey Staffing Alliance, the Society for Human Resource Management and the National Association of Professional Background Screeners. How may we help you today?
Expunging Outdated Data from Background Checks
Have you ever been rejected based on your background check but you know your records should have appeared with no questionable information?
What should you do if you find erroneous information on your personal, credit or social media history? How do you begin to correct information that is no longer accurate?
Gather your patience for the process.
While many states have passed laws to help people clear their criminal records, the laws fail to address issues found in private database companies that might be slower to reflect updated information. These include thousands of private sellers of criminal history records across the Internet. Often, these companies could be of questionable integrity or quality.
Removing information can be done, but it will take time and diligence—sometimes up to a year— no matter on whose fault the error is. Worse, no one place holds all your records.
First, it is necessary to perform a search through a reputable background check company such as Data Screening. This way you will have the most accurate and the most up to date records on yourself. With this information, you will be able to see any mistakes that are on your record or any convictions that should have been expunged. You will also be able to see the locations of the courthouses from where this incorrect information about yourself originated from and therefore get it corrected quickly.
Unfortunately, no federal laws exist that require periodic updates.
States have jurisdiction to invoke remedies for people harmed by outdated personal information. The process may be more difficult if you have married, divorced, or recently relocated.
Further, as one might expect, the process can be costly in time and fees. If you cannot endure the process, a reputable record removal firm can help, but unfortunately, it may not be totally effective as some background check sites do not honor requests from third parties.
Nevertheless, it is vitally important to keep personal data accurate, especially if you have taken the time to adjust prior records.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the New Jersey Staffing Alliance, the Society for Human Resource Management and the National Association of Professional Background Screeners. How may we help you today?
Hiring for the Gig Economy? Best to Screen Carefully
Hiring temporary contract workers is on the rise, and more small and midsize businesses are heading this direction. This gig trend will likely continue until at least the end of the decade. Isn’t that good news for staffing firms, whose utilization grew an average of 10 percent over the past year?
While hiring great temporary or gig workers is crucial for your clients, it also means staffing firms must tweak their processes to bring in the right talent. Being proactive both with digital contact and vetting approach becomes essential.
Alter interview questions to determine the candidate’s ambitions for specific opportunities, like the examples below:
- Why are you interested in this temporary opportunity?
- Do you hope to transition to full-time employment?
- What are your goals regarding this specific position and why?
- What characteristics are most important to you in any job?
- Describe your preferred work environment
Ask questions that reveal the candidate’s work style and personality, such as:
- Tell me about a time you went above and beyond the scope of your job.
- What do you value most in a company?
- Do you prefer working solo or with a team?
- Describe a time you had a conflict with a coworker and how you solved it.
- What skills do you have that would add value to this job?
- What would be your ideal job?
Remember to run a background screening on each candidate, too. Without an accurate screening by a professional firm, such as Data Screening.com, you may not get all the facts. There’s little worse than presenting a candidate who may have posted false claims on an application.
As a staffing firm, certainly you want to present your best-vetted talent to your client to fill any potential openings, and a proper data screening will check for fraud, any history of criminal activity and many other critical issues. Plus, all screening must be completed within the framework of federal and state employment laws, and a professional screening firm will operate with the knowledge of those boundaries.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the New Jersey Staffing Alliance, the Society for Human Resource Management and the National Association of Professional Background Screeners. How may we help you today?
3 Trends in Data Screening
Any employer expects employment laws and practices to change over time. It’s just part of doing business to keep up with the trends.
The Society for Human Resource Management keeps an eye on current topics, issues, and trends in the HR industry, including conducting pre-employment background checks. According to the SHRM, it is important to note some recent changes.
Ban the Box
These laws, which pertain to checking a candidate’s background for a criminal history, are becoming the norm. A firm must delay asking about potential criminal background until either an interview has taken place or a provisional job offer has been made. To date, nearly half of the states in the USA have enacted such laws.
Ban the box was proposed to prevent a potential employer from automatically rejecting an ex-offender based on the bias of that status rather than what the employee may contribute. The point is to help reintegrate people with a criminal history back into the fabric of society, providing a means to support themselves. It does not mean a background screening for criminal activity can never be done.
The difficulty with the laws are their various nuances of letters, language, and wait times.
The gig economy and screening
Employers must discern how to adapt to the growing on-demand workforce. It is expected to become a matter of course to screen temporary employees.
Continuous screening
While most companies screen at the pre-employment stage; more firms are opting for re-screenings or continuous screenings to maintaining a safe and fully-vetted workforce. According to SHRM, post-hire screenings are expected to “reduce the prevalence of insider threats occurring throughout an employee’s tenure. Highly regulated industries and the government may adopt periodic or continuous screenings.
Hiring the right background screening company like Data Screening.com is critical. Make sure the one you hire knows the laws and regulations and operates with professional standards of accuracy in a timely manner.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the New Jersey Staffing Alliance, the Society for Human Resource Management and the National Association of Professional Background Screeners. How may we help you today?
12 Tips for Landlords – Avoid Rental Application Cons
As a landlord, you may think you’ve seen more tricks than at a dog and pony show. Forgery and fraud in rental applications may not be publicized, but it frequently happens, particularly with “mom and pop” landlords as scammers think they are the easiest to manipulate.
Those applicants who perpetrate fraud will often seek multi-family housing and typically have a bad credit score. Sometimes they have a pet or two and “forget” to inform the landlord. When people need a home, they’re almost in survival instinct mode. They may try anything to get that need met. So stay ahead of the game by following these tips.
- Ask for a photo ID and never accept a photocopy or fax of one as these can be easily faked. Ascertain the applicant is the person on the ID and not just someone with similar characteristics. Ask if the address on the ID is where they currently live, and if not, why?
- Make certain to invest in a tenant background check, specifically one that searches for criminal records. This screening reveals past problems and hints of potential future ones, such as previous fake addresses or offenses which may violate safety. A decision not to get a background check could be much costlier in the long run as it is more difficult to evict a tenant once they are in residence.
- Secure a tenant credit check. A low credit score could indicate the potential of bad pay or no pay. Worse, the tenant could skip out after leaving damages or absconding with appliances and light fixtures.
- Beware of tenants who respond to rental advertising on free sites or bulletin boards. Sure, many people respond legitimately to these ads, but it benefits you to be cautious.
- Know your rights as a landlord and the rights of potential tenants. Having this information at hand helps to verify you are within the law to refuse a tenant’s application without discrimination.
- Ask about pets. Clarify that your policy covers the inclusion of a pet from the time of move-in to vacating the lease.
- Observe the person completing the application. Do they use a “cheat sheet” or phone someone to ask for help? When finished, look over the application and ask questions to confirm the data.
- Verify past personal references. Sometimes renters use two separate phones in an attempt to respond as their own “reference,” or ask a friend to vouch for them. Landlords can place an unexpected call to the numbers to catch the fraudulent renter off-guard.
- Do a computer search of the potential renter’s name and see what comes up.
- Request pay stubs to verify income. Most companies, even the government, use electronic records. Be wary of anything that looks like a fake template. Look for typos, font changes, misaligned information, mistakes in the math, or unlikely sequencing of check numbers.
- Charge an application fee or require a deposit that can be applied to the rent. This discourages those who forge or proffer fraudulent documents.
- Check with your local police frauds department to see if they have a list of tips to share with landlords.
Perhaps the best way of all to determine a legitimate renter is to outsource your potential tenant’s background screening to Data Screening.com. Besides in-depth information that is legal and above board, you save hours of time by obtaining the credit and background checks in a single-sourced, convenient report.
About DataScreeening.com
Data Screening is a Certified Women’s Business Enterprise that has offered business-to-business employment and tenant screenings to human resource professionals and business owners, including staffing companies, for two decades. Among other organizations, they are members of the New Jersey Staffing Alliance, the Society for Human Resource Management and the National Association of Professional Background Screeners. How may we help you today?