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Equifax used records it collects from companies to fire employees with 2nd jobs

businessinsider.com

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Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#151

Post by sgjohnson »

sirsinsalot wrote: post #45
justinc8687 wrote: post #31

"Equifax flagged 283 contractors for potential 'dual employment,' documents show." Would this not be a big flag to reclassify these contractors as employees? Being able to have multiple clients is one of the factors to determine if you're a contractor...

In the UK there's a set of criteria (IR35) that attempt to codify the distinction. The hiring business has to make the assessment. One of criteria is right to subcontract and freedom to work with multiple clients. If they get it wrong, they're liable for taxes, not the Contractor. HMRC, the UK tax body is responsible for this, and therefore it is an utter mess in practice and has had chilling effects on the UK IT con…

> The hiring business has to make the assessment.

not anymore

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#152

Post by b112 »

jedberg wrote: post #116
computator wrote: post #90

> Equifax is now receiving records every pay period from 2.5 million companies. Information in the reports comes from employers and payroll processors. But why do employers and payroll processors give any data to Equifax? I can understand that credit card issuers, and mortgage and auto lenders want to know the credit worthiness of people they'll give credit to, and those types of businesses are likely required to sha…

Anyone who signs up gets a report showing how their companies compare to others as far as comp goes. So they get to know if they are underpaying or overpaying. They also can pull salary history for an individual who is applying for a job in places where that is legal. But you have to submit your data to get access to everyone else's.

This is pure evil, and should be 100% illegal.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#153

Post by sgjohnson »

nprateem wrote: post #110
trollied wrote: post #106

Earlier quoted context omitted.

IR35 is going away. It got the axe in the insane mini budget a few weeks ago.

No, the changes to it are going away, not the legislation. It'll be back on contractors to make the determination of IR35 status again

Which in practice means that yes, IR35 is going away, because HMRC is not going to audit every single contractor, unless they make a significant amount of money, and those that do make a significant amount of money, are almost certainly going to fall outside of IR35

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#154

Post by BerislavLopac »

nprateem wrote: post #110
trollied wrote: post #106

Earlier quoted context omitted.

IR35 is going away. It got the axe in the insane mini budget a few weeks ago.

No, the changes to it are going away, not the legislation. It'll be back on contractors to make the determination of IR35 status again

And it's not even certain that this is going away; even if it does, it won't be before the next tax year at the earliest.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#155

Post by trasz »

master_crab wrote: post #2

First thoughts after reading this: 1. Is this legal in all jurisdictions an employee could conceivably be based in? 2. When will Equifax monetize this as a service to other companies (because you know they will).

>Is this legal

It doesn’t matter. For this to matter it would require punishing the offenders, and since they are wealthy it’s not really an option in most western countries.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#156

Post by oefrha »

raydiatian wrote: post #30
TallGuyShort wrote: post #22

Earlier quoted context omitted.

I'm enjoying my free credit monitoring, because it's oh so transparent and useful.

I once missed a $10 payment on my credit card and lost 100 points on my credit score. I swear on my life.

At least you did something wrong. Mine dropped by 150-200 once when Experian decided to put someone else’s debt on my file. That person’s name has nothing in common with mine, so no idea how it got there. No free credit monitoring offered afterwards.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#157

Post by hamandcheese »

forgotmypw17 wrote: post #146
HWR_14 wrote: post #86

Earlier quoted context omitted.

Instead of paying $12,000/kid/year you could just send them to public school.

Having been through public school in the U.S., I would not send my own child to one if I had any other choice.

Then you went to a bad public school.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#158

Post by mellavora »

ummonk wrote: post #107
anonreeeeplor wrote: post #81

I have three children. It is literally impossible for me to survive on any salary companies are willing to pay. I work multiple jobs. Idk the solution. It costs me $3,000 a month just for school. That’s a second mortgage. Either they increase pay 50%. Which they don’t want to do. Or I work three jobs. If they don’t like it, pay more. I actually don’t even have a choice, it isn’t even an option. School must get paid f…

Do you have a spouse? You might be worried about public school quality, but at some point it would be cheaper to just have the spouse stay at home and home school.

Except the stay at home spouse doesn't get any pension/social security benefits from this, plus it tanks their career with massive impact on future earnings.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#159

Post by mellavora »

anonreeeeplor wrote: post #81

I have three children. It is literally impossible for me to survive on any salary companies are willing to pay. I work multiple jobs. Idk the solution. It costs me $3,000 a month just for school. That’s a second mortgage. Either they increase pay 50%. Which they don’t want to do. Or I work three jobs. If they don’t like it, pay more. I actually don’t even have a choice, it isn’t even an option. School must get paid f…

You're getting a lot of heat for investing in your children. This makes me sad, though I suspect the people are good intentioned, trying to help you "solve" your problem.

I can think of many scenarios where 1K/month/child is the best option. I don't know the quality of schools available in your area, but I do know it can vary wildly, and good school can make a huge difference.

And you have my deep respect for the sacrifice you are making for your children. We need more people like you.

Re: Equifax used records it collects from companies to fire employees with 2nd jobs

#160

Post by mellavora »

kyleyeats wrote: post #126
tkk23 wrote: post #112

Earlier quoted context omitted.

Not to forget that OP could do the home schooling and the spouse keeps working.

Homeschooling is like a second job, though. One where you can't bullshit and lie your way through it.

and where you don't get paid and which doesn't give you any credit on your CV when you go to look for your next job and where you don't get any social security benefits.
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