Corra Group is offering bankruptcies, liens, and judgments, or BLJ’s, as they are known as either a substitute to employment credit reports for employment screening. As evidenced in an article published by Fundera, the three major credit reporting agencies are no longer reporting tax liens and civil judgments on individual credit reports.
“It has been about a year since the three major credit reporting agencies, Trans Union, Experian, and Equifax have discontinued reporting tax liens and civil judgments to their consumer credit reports,” said Corra Group Co-Founder, Gordon Basichis. “As such, employers conducting credit reports as background checks for employment screening purposes may miss information that previously they used to determine the viability of a job applicant employment potential.
“For employers who base an employment candidate’s fiduciary responsibility, or lack of it, on their ability to function well in certain critical departments, or who need credit reports to meet certain compliance mandates, this is something to take note of,” said Basichis. By conducting bankruptcies, liens, and judgments as a supplement to or a as a substitute for credit reports, employers are able to see outstanding tax liens and civil judgments that could lead to garnishments. Garnishments, meaning where creditors can have access to as much as twenty-five percent of an employees salary, add extra burden and expenses to the human resource process.
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