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Most people wonder if their employers can access the copy of their credit reports. The answer is Yes. An employer has the ability to access an employee's credit report, but he can do so only if the employee allows it. Any information pertaining to your credit cannot be provided by consumer reporting organizations to your current or prospective employers, without a written authorization from your side.
Majority of potential employers feel the need to go through individuals’ credit reports before hiring them to assess their application for employment by a background check. Your present employer might also require a copy of your credit report for several reasons like sanctioning your company sponsored loan, approving sponsorship of your retirement plans, etc. However, to get access to your credit history report, both the current employer as well as the prospective employer should have your written approval for the same. In Vermont, the employers can access your report even with your oral consent.
While your permission, written (or oral in a few cases), is necessary for any of your employers to legally access your credit report, it is not the case always. In case of any offer of pre-approved credit, permission to access credit reports is not sought from the individuals. Other people and organizations that can get a copy of report, with or without your permission, to fulfill their legalized business needs, include those evaluating your application for a government benefit or license, lenders, landlords, a local or state child support agency for enforcement, your credit account companies monitoring your account, insurance companies, and other government agencies.
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