Credit check failed - withdrew my Offer of employment :(

Cazza

To those of you who are wondering if this is a scam, a credit check is a standard part of referencing when employing people in the financial services industry - it was certainly the case when I became a Mortgage Adviser in 2004 so is not a new requirement. This is a practice followed by all reputable firms - eg High Street banks (depending on your definition of reputable!). I have never heard of an employer charging for these checks but an offer of employment would be subject to a "satisfactory" result; my employment contract also stated I would be rechecked at regular intervals(every 3 years I think), and that an adverse result *could* lead to disciplinary proceedings. I'm not sure if their reasoning is based upon anti-corruption principles (an employee with financial difficulties being a greater risk), or if it's to do with someone giving financial advice being able to "keep their own house in order".

OP - I'm sorry about your experience. It is quite likely that your job offer has been withdrawn more because you failed to disclose the defaults than the fact they existed. Are there any mitigating circumstances you could use to explain the situation? It's definitely worth a try - my old employer's HR policy was quite clear that "adverse" results had to be really significant for them to take action - such as failing to maintain a DMP or undisclosed bankruptcy. It's the not telling them part that freaks them out.

caeler

falko89 wrote: »

This might sound totally stupid but why do you need credit checked to get a job?

As per Cazza's explanation but also if you need a high level of security clearance, it you have a history of bad financial management you are unlikely to obtain security clearance as it could mean you could be bribed, etc.

mrsb74

Yes you need to have a good credit check to work in prisons, police etc.

JUDIS6

had an interview for a job on Thursday, was advised I got the job on Thursday - happy days - more money etc. Yes everything is official - hand your notice in - which I did.

Just got all the paperwork through - oh yes the lovely lovely background checks which include a credit check which I will fail as I am in a trust deed - I don't know what to do now - I'm jobless! I wouldn't be dealing with money just a typist but now have the stress of the weekend before I can contact anyone to hopefully (but knowing my luck!) put my mind at rest!

mynameistallulah

JUDIS6 wrote: »

had an interview for a job on Thursday, was advised I got the job on Thursday - happy days - more money etc. Yes everything is official - hand your notice in - which I did.

Just got all the paperwork through - oh yes the lovely lovely background checks which include a credit check which I will fail as I am in a trust deed - I don't know what to do now - I'm jobless! I wouldn't be dealing with money just a typist but now have the stress of the weekend before I can contact anyone to hopefully (but knowing my luck!) put my mind at rest!

Too late now, but in future never resign until your new appt has been confirmed.

**Juice**

Credit checks are quite normal if you're applying for a job in the financial sector...I work in a financial organisation and even though I'm nothing to do with the money side of things (I don't have access to any of the systems, documentation or cash), I still had a credit check as part of my application. And a CRB.

JUDIS6

The job offer was confirmed by the agency who said it was signed and sealed. Neither the agency nor the company mentioned background/credit checks. I have to fill out a CRB too. I'll call the agency on Monday and see what happens. I can only be honest but thanks for the sympathy mynameistalluah.

lilymay1

My husband has just been offered a job as a...wait for it....postman. He's been CRB'ed, credit checked and they wanted 2 references. All standard procedure.

None of the above will be a problem, but it's just employers being careful.

Hard lines OP. Can you approach your current employer with regards to withdrawing your resignation?

coinxoperated

In the financial sector is common practice to credit search anyone who works in it.

JUDIS6

no I don't think it will be possible to withdraw my resignation.

I'm so mad that no-one has said anything to me - the agency that sent me for the interview or the company that hired me. I would have been totally upfront as yes I have made mistakes in the past but I have now taken responsibility for my mistakes - am 14 months into my trust deed.

I am just hoping and keeping everything crossed when I phone on Monday and explain that they will be sympathetic to my plight! :mad: