job offer.....but subject to credit checks

tj2002

I've just been offered a new job following an assessment centre I attended yesterday. Only problem is it's subject to credit checks. Basically I have a couple of defaults and total debts of about £1600, from 3 different creditors. The job is in life and pensions so FSA regulated. They're an outsourcing company whos sole client at the moment is co-op financial services. Does anyone know if they will just be looking for high levels things like bankruptcy and fraud or will my poor credit cost me the job?

I've now just received the terms and conditions and article 5.4 states this...


"We will undertake a credit reference check through a recognised credit reference agency for all employees where it is a business requirement. The results of the check must show that there is no adverse data recorded against you relating to county court judgements, voluntary arrangements or bankruptcy."

Now I know that according to experian I have no CCJ's, IVA.s and I'm not bankrupt so am I in??

harkip

My name is Harkip. and I used to work for Barclaycard in Manchester, when I was made redundant last year I couldn't afford to repay my staff loan the 2 default notices that BC put on my credit check cost me a position at CIS Manchester (Co - op bank)
I wish you all the very best Paul

tj2002

Paul???? Well that was my worry, i'm not celebrating yet as i still think it may not work out but just after any insider knowledge really

DFWJane

tj2002 wrote: »

Paul???? Well that was my worry, i'm not celebrating yet as i still think it may not work out but just after any insider knowledge really

I meant to click 'reply' but have just managed to thank you for your post!

Will you be giving any sort of financial advice in this job? that's what they usually worry about. Saying that, I'm sure i have read somewhere that not being able to control your own finances does not necessaarily mean you are not qualified to advise others.

It may be useful if you have a look at the FSA website, or perhaps even call them or CCCS for some hypothetical advice.

www.fsa.gov.uk
www.cccs.co.uk

willt

As long as you have no ccj's / IVA's or bankruptcy, the main issue they look for is are you capable of repaying your debts now. I work for one of the big 5 banks and have over £10k of credit card debt and a 5 year default. It didn't afect my application as I've got a good record of making payments over the last 5 years. The only thing we have to do is tell the bank if we're having trouble making payments and not to enter any IVA's without letting them know first.

At the end of the day each bank will interprate the information differently, theres no black and white answer for your situation. Are your defaults old ? Can you explain why they happened ? Whats your payment record like on your existing debt ? £1600 debt is peanuts, thats not going to affect anything, its your recent track record that will have most effect I'd say.