Security Clearance and Credit

Parki_2

I am required to obtain Security Clearance at work. 

I have been in an IVA about 7 years ago, but there is nothing negative or my Experian or Equifax credit reports.

Would I be required to explain this if it will not come up via a credit search? Would historical things likely hinder me? In a totally different financial situation now.

I've done an initial form but not been asked about my past financial situation yet, but failing the clearance would cause me problems at work. 

sammyjammy

I just had a security clearance through work and from memory they only ask about the last 12 months, if they ask then its best to be truthful, thats all you can do.

MattMattMattUK

Parki_2 said:

I am required to obtain Security Clearance at work. 

I have been in an IVA about 7 years ago, but there is nothing negative or my Experian or Equifax credit reports.

Would I be required to explain this if it will not come up via a credit search? Would historical things likely hinder me? In a totally different financial situation now.

I've done an initial form but not been asked about my past financial situation yet, but failing the clearance would cause me problems at work. 

You would be required to explain if asked, but it is very unlikely that you would be asked. The historical issues would not be an issue if you explained them, they would only be an issue if you lied or refused to answer when asked. 

fatbelly

If the IVA started 7 years ago, and completed within 6 years, then the record drops off your file at the 6-year point.

The insolvency register continues to show it for 3 months after it finishes

At this point it becomes difficult to prove thst you had one.

Remember bankruptcy is a different form of insolvency so if asked Have you ever been bankrupt? it's a No

Sly72

My partner has just been cleared, but if the financial questions open up on the form (SC and above only) be open and honest, they go back 10yrs, They may ask for documents. 

Parki_2

Cheers for the feedback. 

I completed the form and it asked question if I've ever had for all sorts of financial questions so I honestly answered about my Iva even if it wouldn't show up on my cra files. Suppose if they are looking for honesty and they are old, but I certainly would be misleading if I put no to any of the financial questions. 

Hopefully I get approved as I like working where I am, but just will have to wait and see but hopefully the honesty will score me some points. 

VAP_Driver

It’s not the financial history that interests them. It’s the potential vulnerability to coercion and blackmail. Having large or hidden debts increases that risk. Having historical debt issues, that are dealt with and has been ‘owned up’ to on your application doesn’t, as that can’t be used against you. You did the right thing by mentioning it.

I’m sure you’ll be fine.

Parki_2

They have asked for a copy of my completion certificate and the reasons for it and such so I have tried to be open. I suppose I have been up front as much as I could by mentioning it, and I don't feel that my bad financial management ten years ago when it started reflects me now. Certainly have never ever been dishonest in my life but  nervous times now as I await the outcome. I really am worrying about losing my job but I have done everything I can I suppose. Fingers crossed it's enough. 

La_escocesa

That sounds like a positive step. Definitely not an outright rejection. And asking for your completion certificate sounds like that is what they're interested in - i.e. that it's completed and in line with your previous answers to them. 🤞