Pre employment credit check

Monk93

Good morning, I have just been offered a job at a insurance company and they are doing a pre employment screening, part of it is a credit check, I've not got any ccjs or I've not been bankrupt but I have some defaults and missed payments, caused by COVID and break up. Will the defaults and missed payments show on the report or is it just a check for major issues? 

Marcon

Monk93 said:

Good morning, I have just been offered a job at a insurance company and they are doing a pre employment screening, part of it is a credit check, I've not got any ccjs or I've not been bankrupt but I have some defaults and missed payments, caused by COVID and break up. Will the defaults and missed payments show on the report or is it just a check for major issues? 

Almost certainly - but that doesn't mean you will automatically be deemed as unsuitable for employment with the insurance company. Why not get a copy of your own report and see exactly what it says, not least because if there's any incorrect information on there, it would give you an opportunity to correct it.

Sandtree

Monk93 said:

Good morning, I have just been offered a job at a insurance company and they are doing a pre employment screening, part of it is a credit check, I've not got any ccjs or I've not been bankrupt but I have some defaults and missed payments, caused by COVID and break up. Will the defaults and missed payments show on the report or is it just a check for major issues? 

Most the time this sort of thing will be discussed with the agency before putting you forward.

All financial services companies have a duty to ensure they employ "fit and proper" staff. When this comes to senior managers that goes as far as the PRA/FCA screening proposed role holders themselves but for lesser jobs the companies are expected to have their own appropriate measures.

Generally, employers are looking at bigger ticket items like CCJs, Defaults, Partial & Final Settlement and CIFAS markers rather than the occasional late/missed payment or over limit. Generally it is better to be upfront and declare the issues and the explanation than them "find you out" and decide to withdraw the offer without an opportunity to discuss.

Newmum92

Hi, how did you get on in the end? 

GentleGiant01

Check the form you are filling out, if it specifically states they will perform a full credit check, it will see you have defaults. 

Often, these things aren’t a “full” credit check, they will only be checking the stuff readily available (CCJ’s, CIFAS, etc). 

Only a small fraction of pre-employment screeners do a full credit check, but even so, if there is a section to declare anything you need to declare your defaults. If they find them and you haven’t, chances of you getting the job are slim to none. 

Let us know how it goes!