credit score affecting job prospects

mittens65

:eek:New to site and computer novice so not sure this is the way to post a new thread I hope so, so here goes for the second time my friends 30yr old daughter has the chance of a permanent job at a bank the only thing obstructing this is her credit reference which is poor to say the least she had six outstanding loans some with late payments and a credit card none of which has incurred any ccjs just defaults. My friend has paid off all but one loan which have mainly been payday ones and the one outstanding one is due to be paid off shortly. The only outstanding then will be a minimal amount on the credit card and an agreed overdraft of £3k which is being reduced each month. The credit card balance can be paid off but the overdraft is what she is worrying about as her daughter has been told the job is hers only for the credit reference previously sort she is currently temping at the bank and has done through an agency for a few years so they know she is a good worker my friend is unable to help with the overdraft do you think her credit reference will have improved sufficiently she has also gone on the electoral roll which she hadn't been on at the time of credit reference undertaken by the bank.

Tixy

Hi and welcome to the forum

do you think her credit reference will have improved sufficiently she has also gone on the electoral roll which she hadn't been on at the time of credit reference undertaken by the bank.

Has the bank already performed a credit check and declined to offer her employment?

The debts she cannot pay off in full, which I think from your post is 1 card and an overdraft - do either of these have defaults? or will all of the defaulted accounts be fully paid?

I would imagine if she has several defaulted accounts on her file this could well be an issue for them.

If they haven't yet undertaken a credit check it might be worth her speaking to the HR team at the employer to ask what is considered acceptable and what is not.

mittens65

Thank you.

Yes she has gone over the agreed overdraft limit a few times and the bank have done a credit check previously which she was made aware of and the reason why they couldn't offer her the post at that time since then the loans are all but paid and credit card can be this will then leave the overdraft which she is within the agreed limit and she is paying each month to reduce the amount of the overdraft the bank will be ceasing to employ temps in the new year and she has been told there is a job for her but they cant offer anything because of the credit check. As she has cleared and put measures in place to reduce her overdraft what would be the best thing to do? As the bank will do another credit check do you think she would have to clear here overdraft as well for the bank to be able to take her on permanently

Tixy

I would suggest she asks them, they already know about her situation, so she doesn't have anything to hide. The HR/personnel team should be able to advise her if she tells them her current position and what is showing on her file now.

simeyb

My OH works for a large retail bank and I know for sure that if a prospective employee cannot pass the credit check they would expect someone to to have a bank account with them for example, then they will decline the employment as it would indicate to them that the person MAY and I stress MAY, not be suitable for a role in banking. I suspect that the defaults on the persons CRA files may be a real problem unfortunately - I think even speaking to HR may not make a difference as they are bound by the FSA rules on this (or whatever the FSA is these days) and is not a local decision that could be taken. Sorry. No harm in letting it all go through, but would thoroughly manage the person's expectations

dancingfairy

Sadly I suspect that the defaults /late payments will be a problem even if the debts are now paid off. All she can do is pay off what she can and try and keep on top of things in the future. After 6 years the defaults should drop off her file. For a lot of things and more credit it will make a difference how long ago the defaults were but I think the banks have much stricter criteria.
It will also very much depend on the role and the bank.
It does seem strange that she has the job through an agency yet the bank won't take her on permanently. Surely agency workers should have to pass the same controls/tests as other workers? It seems very odd. Either she's good enough to do the job or she's not
As Tixy said her best bet is to talk to the HR department about it and be honest as otherwise they could withdraw any offer/terminate her employment if they find out she has lied.
I hope things go well for her.
df

stclair

Have these debts accumulated since they begun working for the agency?

As I'm sure it's normal policy for agency bank workers to have a sound credit history.

Even the cleaners at the RBS have to have a sound credit history.

tinkerbell28

she has been told there is a job for her but they cant offer anything because of the credit check

Surely then it's game over? No even if they credit check her in a month or two, she will still have outstanding debt and defaults, their position won't be changed between then and now.

mittens65

She was credit checked when she first started temping at the bank but was living with parents it is since leaving home she has accumulated the debts. I fear she may have missed out on a permanent job.

Thank you for all the replies received.