Northwest Indiana Discussion

In the study, the researchers had about 200 people fill out a personality survey, ran their credit score, and then had their boss fill out a performance evaluation on them. “The credit score was not related to counterproductive or deviant aspects of performance,” Bernerth says. “I think there’s an assumption that if you’re in debt you might steal or embezzle from your company..........”

Credit scores are traditionally used by lenders, insurers and landlords. But by marketing to employers, the major credit bureaus were able to successfully develop another customer category. Bernerth and his colleagues launched their study after hearing radio and television ads touting credit checks as a legitimate tool to screen job candidates. “And we’re looking at each other as people who study this for a living and said ‘What? Where’s the evidence to back up that claim?’”

While the study was published in 2011, Bernerth is unaware of additional research published since that confirm the merits of credit checks as an employee selection tool. Instead, what a credit check may reveal better are unfortunate life circumstances. A 2013 study by the think tank Demos found that poor credit is associated with factors such as household unemployment, lack of health coverage and medical debt. A 2012 study by the Federal Trade Commission revealed that 20 percent of consumers had errors in their credit reports. And a 2014 report from the Consumer Financial Protection Bureau found that consumers’ credit scores may be overly penalized for medical debt.

1 Residential Real Estate with Rental, Location: 3 100,000.00 36,111.00 DA 0.00 FA
2 Checking with Harris Bank 140.00 0.00 DA 0.00 FA
3 Miscellaneous used household goods, including: f 1,500.00 0.00 DA 0.00 FA
4 Books CDs DVDs Wall hangings 300.00 0.00 DA 0.00 FA
5 Personal used clothing 300.00 0.00 DA 0.00 FA
6 Miscellaneous costume and fine jewelry, includin 200.00 0.00 DA 0.00 FA
7 Employer term life insurance - No cash surrender 0.00 0.00 DA 0.00 FA
8 Qualified Retirement Annity, City of Hammond Def 48,536.75 48,536.75 DA 0.00 FA
9 P.E.R.F. Balance as of 12/31/2008 49,280.33 49,280.33 DA 0.00 FA
10 Earned income credit for this filing year (wheth Unknown 0.00 DA 0.00 FA
11 2009 Tax Refunds due the Debtor (amount not yet Unknown 3,657.57 3,914.00 FA
12 1997 XXXX with 84,000 miles Trade i 875.00 0.00 DA 0.00 FA
Int INTEREST (u) Unknown N/A 1.57 Unknown
13 Assets Totals (Excluding unknown values) $201,132.08 $137,585.65 $3,915.57 $0.00

03/26/10 {11} US Treasury 2009 Federal Refund 1124-000 3,914.00 3,914.00
03/31/10 Int The Bank of New York Mellon Interest posting at 0.0700% 1270-000 0.02 3,914.02
04/16/10 To Account #9200******4566 TRANSFER TO CHECKING 9999-000 256.43 3,657.59
04/30/10 Int The Bank of New York Mellon Interest posting at 0.0700% 1270-000 0.22 3,657.81
05/28/10 Int The Bank of New York Mellon Interest posting at 0.0700% 1270-000 0.21 3,658.02
06/30/10 Int The Bank of New York Mellon Interest posting at 0.0700% 1270-000 0.21 3,658.23
07/30/10 Int The Bank of New York Mellon Interest posting at 0.0700% 1270-000 0.22 3,658.45
08/31/10 Int The Bank of New York Mellon Interest posting at 0.0700% 1270-000 0.22 3,658.67
09/30/10 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.70
10/29/10 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.73
11/30/10 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.76
12/31/10 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.79
01/31/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.82
02/28/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.02 3,658.84
03/31/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.87
04/29/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.90
05/31/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.93
06/30/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.96
07/29/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,658.99
08/01/11 The Bank of New York Mellon Bank and Technology Services Fee 2600-000 5.01 3,653.98
08/31/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,654.01
08/31/11 The Bank of New York Mellon Bank and Technology Services Fee 2600-000 25.00 3,629.01
09/30/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.02 3,629.03
09/30/11 The Bank of New York Mellon Bank and Technology Services Fee 2600-000 25.00 3,604.03
10/31/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,604.06
10/31/11 The Bank of New York Mellon Bank and Technology Services Fee 2600-000 25.00 3,579.06
11/30/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.02 3,579.08
11/30/11 The Bank of New York Mellon Bank and Technology Services Fee 2600-000 25.00 3,554.08
12/30/11 Int The Bank of New York Mellon Interest posting at 0.0100% 1270-000 0.03 3,554.11
12/30/11 The Bank of New York Mellon Bank and Technology Services Fee 2600-000 25.00 3,529.11
01/23/12 Int The Bank of New York Mellon Current Interest Rate is 0.0100% 1270-000 0.02 3,529.13
01/23/12 To Account #9200******4566 CLOSED SAVINGS 9999-000 3,529.13 0.00