Please Help - Credit Checks for Job App

Iloveprettythings

Hi

I wonder if anyone can advise me.

Basically I took out a DMP with Payplan a few years ago which has improved my life greatly and has made paying one lump sum a month a lot easier.

Basically I applied for a job in a large financial company and I have been successful in gaining the role but its on completion of criminal record checks and credit checks.
I know that the criminial record check will be fine but I am worried about the credit checks?

On the application form all it asked was do you have a 'formal' arrangement to pay debts either a IVA CCJ or Bankruptcy? I have ticked no as I don't and then it just states if you have ticked yes then provide details...therefore I have not provided any details as I do not have a formal arrangement.

But I have not mentioned on the application form that I am in debt and have a DMP as it did not ask this?
Therefore could they terminate my employment?

I have told the truth and answered their questions correctly...do you think this means they would not be worried about employing someone with a dmp??

Thanks

dfwsometimesoon

I was in a similar position a few months back, had applied for Police Staff job and was short-listed down to the final few.... questions were very similar as you have said and it did ask re 'formal' arrangement...final steps were the credit check and final interview...

I too am in a DMP with payplan at the time of interview was only into my 2nd month however when I put the feelers out re the credit check, it was stated not to worry they just making sure you are up to date with all commitments etc...to be perfectly honest I 'bottled' the final interview knowing that my credit report would show late payments etc I really didnt see the point in continuing with the process when I knew in advance all depended on a squeaky clean credit report..... ironically had I got the job I could have ended the DMP as there was a substantial increase in pay... The perception with the credit report etc especially in the Finance industry is.. bad credit report.... high risk of theft/open to bribery etc... very unfair I know thats bottom line tho

Iloveprettythings

dfwsometimesoon wrote: »

I was in a similar position a few months back, had applied for Police Staff job and was short-listed down to the final few.... questions were very similar as you have said and it did ask re 'formal' arrangement...final steps were the credit check and final interview...

I too am in a DMP with payplan at the time of interview was only into my 2nd month however when I put the feelers out re the credit check, it was stated not to worry they just making sure you are up to date with all commitments etc...to be perfectly honest I 'bottled' the final interview knowing that my credit report would show late payments etc I really didnt see the point in continuing with the process when I knew in advance all depended on a squeaky clean credit report..... ironically had I got the job I could have ended the DMP as there was a substantial increase in pay... The perception with the credit report etc especially in the Finance industry is.. bad credit report.... high risk of theft/open to bribery etc... very unfair I know thats bottom line tho

Hi

Thanks so much for your reply.

The thing is I have not lied I have told the truth on the application form and now I have been offered the job!
I start in two weeks and have handed my notice in on my current role...I suppose I am worried that if I leave my current role and the new company then says sorry your credit check was bad and I have no job! That will really be the worse thing as I won't be able to pay my mortgage or DP.
I really want the job I have been offered though.

Its a shame you did not attend the final interview...I guess you will never know!
I have no criminal record either

Archer0710

When you entered your DMP did your creditors default your accounts? I am led to believe this is common practice.

If so I imagine that although your credit report will show defaulted accounts which although not an official agreement it indicates a problem with your credit management.

Having had problems in the past, I avoid jobs that ask the question tbh.

dfwsometimesoon

shame I didn't attend yes however it was a stipulation of the job ie the credit report they not gonna have that as a requirement if they gonna accept anyone with a bad report if that makes sense... would have been like me applying for a job where I new all along once in the job id need to speak French... however couldnt speak French lol thats the way I saw it anyway... and I too was totally honest when asked re formal arrangements etc... I had none... I also have no criminal record lol such is life tho.... I did know that credit check was part of the process tho and in hindsight probably shouldn't have applied anyway but we all live and learn.

hopefully all will go well with your credit check x wish you the best of luck in new job

Iloveprettythings

Archer0710 wrote: »

When you entered your DMP did your creditors default your accounts? I am led to believe this is common practice.

If so I imagine that although your credit report will show defaulted accounts which although not an official agreement it indicates a problem with your credit management.

Having had problems in the past, I avoid jobs that ask the question tbh.

Hi and thanks for your reply.

But surely why don't they just ask have you got any debts and if so give details? Then I would have been honest and mentioned the DMP.

I have been totally honest on the application as I do not have a formal arrangement!

I mean just because I am in debt I would never commit fraud or anything like that!

dfwsometimesoon

When you applied for the Job initially, did it state then that a credit check would be undertaken? The reason Im asking is yes they could have asked about debt etc however by having this stated as part of the application process I am presuming they would be under the impression anyone with a trashed credit report would be unlikely to apply as they would be aware the credit check would fail..... this is my opinion anyway and that is why I will never ever be applying for a position that stipulates a credit check will be undertaken lol and I agree its very unfair that they class anyone with debt as 'high risk' but unfortunately they do.

FireWyrm

Iloveprettythings wrote: »

Hi and thanks for your reply.

But surely why don't they just ask have you got any debts and if so give details? Then I would have been honest and mentioned the DMP.

I have been totally honest on the application as I do not have a formal arrangement!

I mean just because I am in debt I would never commit fraud or anything like that!

You would like to think so, we all would. The truth is though, that we all have our price. For instance, you probably wouldnt commit fraud for a measly £50, or even perhaps £500, but £5000? How about £50,000? A well known psych study tested just this idea on people and given a 'near zero' chance of detection, most people will commit fraud for a little under £300. Makes you think doesnt it.

The finance industry knows this and given a choice between someone with a squeeky clean criminal and financial record and one who isnt quite so clean, they'll probably take the clean one.

Now, although you have been very honest as far as the question went, you werent candid were you, in all honesty. The very fact that you are asking the question here indicates that you know you have been vaguely dishonest by not asking the envigilator what this question was intended to show and whether your DMP counted as such. If you are prepared to be dishonest in this, THEY will probably be asking the question "what else". I'm sure this is entirely undeserved, but you have to look at it from their point of view.

One method of mitigating the fallout from this might be, to call the Company in question and ask the question you should have asked in the first place. Perhaps the very fact of your (late) honesty will cast you in a much better light since it takes integrity and backbone to admit your faults.

haybel19

I appreciate the original question you were asked was about formal arrangements and examples were given, however I do think bearing in mind you are being credited checked you should have mentioned DMP.

I also agree with the other poster that it is 'vaguly dishonest' not to have mentioned it. I would have a conversation with them pronto, before you potentially end up in no mans land and jobless.

I used to work in both insurance and the banking sector, and we were credited checked routinely throughout our employment, anything negative found could be considered gross misconduct this would have included a DMP. (not why i left was made redundant from insurance role and left banking when i had my little girl)

Just my thoughts but i think you need to have a chat with them- the fact that you have asked indicates your concerns.

Iloveprettythings

OK, thanks very much for your advice everyone.

I have to say I don't feel I have been dishonest at all as I answered the questions truthfully, maybe I was stupidly naive in thinking that they would not employ someone who has a CCJ etc and ignore a DMP.

Maybe I will contact the company and explain.

Thank you

Iloveprettythings

Oh also I meant to say that I am not going to be working in a bank where I will be handling money its just an office role within a financial services company. Do you think they have different levels of credit checks? Ie higher credit checks for people that are working in banks as opposed to offices ? Thanks