Background Check

Need answer from two different pespectives.
1. Potential employee with very bad financial status. Business failure, not filing for bankruptcy, high credit card debt unpayable including back taxes, etc. How handle with potential employer who without knowing financial position is very interested in hiring individual.
2. Potential hiring company interested in hiring individual and half way through interview process learns of bad financial credit history. Should company drop the interviewee immediately and what is the best way to do it.