New employer wants to do a credit search, worried it will ruin my chances

Stressedtothemax95

So I’ve just been offered my dream job at pwc, great career progression into my desired career, great salary and benefits, amazing company to work for etc! They’ve emailed me over the vetting process before I can start work on the 4th December, the agency who I went through has said they will do a low credit check on me.

I’m a little worried that this may harm my chances at getting the job, my credit score isn’t awful but isn’t great either is currently around 200 on clear score, average in my area is 300 odd. When I was 18 I got into an accident and ended up dislocating my knee which put me out of work for 4+months, not including the low hours I went back to as I was advised not to do too many hours to begin with (worked in retail and always on feet).

At the time I was paying out £300 a month alone in car insurance as I had just passed and just a few months before I took out a credit card, I also had a phone contract and rent. Unfortunately being on basic sick pay I was unable to keep up with payments & being young I didn’t know how to deal with the problem and was too embarrassed to ask others for help. This unfortunatly lead to me damaging my credit score.

I’m now 22 and I’ve spent the last 3 years trying to improve it, I recently finished paying off my laptop in July with no missed or late payments. My car is also nearly cleared, currently have 5 months left to pay, again no missed or late payments. I have a few credit cards (all low amounts of £200, which is actually negative on my credit score due to the low amounts??) I’ve not fallen behind on any of my agreements in the last 3 years, and have paid off the outstanding debt on the car insurance from when I was 18 and have a payment plan set up for my credit card (from when I was 18).

I have no CCJ or gone bankrupt, however my credit card from when I was 18 was repossessed. Will this go against me in the vetting process? I really want the job and opportunity and feel it wouldn’t be fair for me to loose out on an opportunity of a lifetime from some silly mistakes made when i was 18.

sangie595

tell them. Now. What counts against you is more likely to be secrets. They want to know that you aren't vulnerable to blackmail etc. People who are open about their circumstances are less likely to be vulnerable. Life isn't fair - you should know that by now! But if you are honest you have nothing to lose. And you'll have more of a chance now, explaining it to them, than waiting for them to find out.

lewishardwick

Working somewhere like PWC, they'll be looking for CCJs, IVAs, bankruptcy etc. Signs of financial hardship the could leave you susceptible to coercion or dishonesty.

If you have any concerns or queries, raise them now or expect questions later.

Good luck!

Stressedtothemax95

Thanks for your reply! I have no CCJ’s or bankruptcies etc. My credit card actually wasn’t a repossession but a default (I’ve had a payment plan in place for the last three years, however that doesn’t show on my report?) i was informed the credit search would be a low one (not sure what that entails) if the company are only checking if ccjs, bankruptcies should I still inform them? I don’t want it ruining my chances if the default doesn’t show up?

TyreLever

lewishardwick wrote: »

Working somewhere like PWC, they'll be looking for CCJs, IVAs, bankruptcy etc. Signs of financial hardship the could leave you susceptible to coercion or dishonesty.

If you have any concerns or queries, raise them now or expect questions later.

Good luck!

I assumed PWC was a typo, and he meant PCW (PC World). I was wondering !!!!!! has a credit check gotta do with a job in PC world. Based on your responce tho, it's not. !!!!!! is PWC and what does they do?

unforeseen

Price Waterhouse Cooper

Large financial company

https://www.pwc.co.uk

lewishardwick

I'd disclose the payment plan.

If you don't and something shows, uh oh!

BorisThomson

TyreLever wrote: »

I assumed PWC was a typo, and he meant PCW (PC World). I was wondering !!!!!! has a credit check gotta do with a job in PC world. Based on your responce tho, it's not. !!!!!! is PWC and what does they do?

Do you not have access to Google?

OP, be upfront, it shows maturity and honesty. If the check raises issues it is far better if you've already let them know. Good luck with the job.

Stressedtothemax95

Thanks all for your messages!! I phoned the agency I got the job through and voiced my concerns to him he also has said contact HR and discuss it, he’s also going to speak to one of the team leaders there that he knows personally. My anxiety is in bits at the moment as I’m just worried my dream job is going to be ripped out from underneath me! The account in question was from 2013 - nearly 5 years ago! Literally only have another year and 5 months till it will be cleared off my report!

Malthusian

I don't know if this is going to help or not but PWC and dream job don't belong in the same sentence.

I haven't worked for them - a relative has after his firm was taken over.

What job are they offering you and is it really a job that no other accountancy firm would want you to do for them?

TyreLever

BorisThomson wrote: »

Do you not have access to Google?

OP, be upfront, it shows maturity and honesty. If the check raises issues it is far better if you've already let them know. Good luck with the job.

My IP has been blocked from google and numerous search engines. Bing works but its shi. Also that website linked doesnt help me figure out exactly what it is they do, altho I'm not gonna search in depth when I can just ask someone who knows for the gist of it.

Never understand the reason for telling someone to google it. Just answer the question. I mean we could google most things if we know the right search terms. Just where do we draw the line between making use of a web forum or use of a search engine? and why does it matter what method is used?