Credit Check at work

Faith177

Hi

I've been in my current job over 2.5 years. I just received an e-mail to say that to keep up with compliance they need to do a random credit check and I've been selected.

I'm a natural born worrier and this has set me straight off! I have a far bit of debt mortgage, credit cards, loan, sofa ect but I have never missed a payment I might have been late once or twice but this is a very rare occurance.

I will try and get my credit report tonight but do I have anything to worry about?

Thanks (sorry I get myself in a right state with things like this)

Treehugged

Bloody hell! Has it really come to this?

What line of work are you in that warrants a credit check?

Faith177

Insurance

I had one when I start but since then I have done a bit of borrowing but as I said ALL within my means and all affordable it's just a lot

westv

What's the point?
What would they do if you failed? They can't sack you for it can they?

Treehugged

This is all getting very intrusive. What's your credit history got to do with your work performance?

This isn't my area of expertise but I'm guessing if you've paid them off on time there shouldn't be a problem. They're all up in your business, aren't they?

Treehugged

westv wrote: »

What's the point?
What would they do if you failed? They can't sack you for it can they?

Exactly.:mad:

InsideInsurance

It is common for anyone working in financial services as the FSA requires their regulated companies to ensure their staff are appropriate.

Certainly at some of my prior clients to have defaults etc on your accounts was considered gross miss conduct and would be treated as such by the company. Other insurers haven't bothered in the slightest.

I only heard of one person that failed the reference whilst working there and they were ultimately sacked for their behaviour/ going AWOL as when they received the HR letter to advise they must attend a disciplinary hearing they told their boss what they could do with their job, walked out and never came back

Faith177

Just reading the staff handbooks I think they are mainly looking for undisclosed CCJ's ect which I have none. It does say though that they don't normally tell you they are doing the checks but they have e-mailed me to tell me

I think I just panic lol

MissSarah1972

I think getting a credit report for anyone is totally out of order and recently I was offered an interview with a big company but I had to give them consent to get a full credit report on me. I declined as I do not want people to know my credit status as it's no concern of theirs. I have never had a CCJ or been to court or anything like that I do not agree to them knowing I may have been turned down for a credit card, or 6 years ago I may have been 1 week late with a payment to the Next book or something like that.

If you failed, could they sack you? Do you have the job becaue you passed the credit check before? What does your contract say?

bap98189

It's a security thing because you work in a finance-related industry. They are looking for people who have large amounts of debt or a history of defaults, CCJ's etc. who may be a security risk. It sounds like you have the sort of debts most people have: mortgage, bank loan etc. so you should have nothing to worry about. Just sign the form and almost certainly you will hear nothing more about it.

MissSarah1972

bap98189 wrote: »

It's a security thing because you work in a finance-related industry. They are looking for people who have large amounts of debt or a history of defaults, CCJ's etc. who may be a security risk. It sounds like you have the sort of debts most people have: mortgage, bank loan etc. so you should have nothing to worry about. Just sign the form and almost certainly you will hear nothing more about it.

It is not normally people in debt who are a risk. It's the people walking round with £800 hangbags and a house in France and 4 holidays a year and a new outfit every day are the types you want to watch! I know as I worked with one who took over £300k from a company I worked for and they never suspected her.