Working Freelance in the financial sector with bad credit

Honda500

Hi,

Do any of the following require a clean credit file, freelance Accountant/book keeper/Payroll/Financial advisor.

As I have had default notices and final demands. I have debts over 25k, that have been passed to debt collection agency but have payment agreements, I do not have any CCJ's.

Does this prevent me working freelance in any of these fields? I know that companies would not accept me as an employee, but is this simply company policy or law?

If I can practice freelance do I have to tell clients?

Many Thanks

dizzyrascal

Are you already qualified to work in finance or are you looking at developing a career?
It might make a difference because if it takes you a few years to qualify you might have a different credit rating when you've completed your training.
However, I would think that financial companies would be less than impressed by a credit file like the one you describe. It doesn't really send out the right message.

Honda500

Thanks for the response., but I asked simply whether it is legally possible to work as a financial advisor, accountant or bookkeeper when one has a bad credit history.

I need a definitive answer, not conjecture or what might not look good to potential customers because the answer will determine what route of study (if any) that I take.

Does anyone know where I might find an answer to this?

Google wasn't very helpful.

Thanks in advance.

Notmyrealname

Financial advisors need to be registered so that is a non-starter however there is certainly no restriction with book-keeping.

Honda500

Hi,

Thanks Notmyrealname, any idea about accountancy?

denla

You can work as a freelance accountant with a bad credit rating. There's nothing illegal about it. Just don't expect anyone, and I mean ANYONE willing to be your client.

dizzyrascal

It would help to know what you are thinking of doing as a career.
However, in relation to your original question, do bear in mind that any professional organisation can strike you off their register if you bring the profession into disrepute.
For instance, I believe that you would get struck off for being bankrupt. For that reason alone it would be sensible to keep on top of your debts.
But as I said before, if there is a long period of qualification then your credit history may be different in a few years.

mountainofdebt

denla wrote: »

You can work as a freelance accountant with a bad credit rating. There's nothing illegal about it. Just don't expect anyone, and I mean ANYONE willing to be your client.

Not wishing to be argumentative but how would any one know that you had a bad credit rating unless you told them ?

OP I think, and you can easily check with the professional bodies concerned but I don't think having a bad credit rating would bar you from working as either a financial advisor, accountant or book-keeper.

I think however if you were made bankrupt though it would be a different kettle of fish