Working in financial services with bad credit rating

Discussion in 'Personal Insolvency, bankruptcy, etc' started by zxcvbnm, Nov 29, 2016.

  1. zxcvbnm

    zxcvbnm Frequent Poster

    Posts:
    205
    can anyone tell me please if I have a bad credit rating does this impact my ability to work in the financial services sector?

    I've a feeling it may but I am not sure.

    I'm an IT contractor and most of my experience is for banks etc.

    (Have nearly 0.5 million residual debt leftover from sale is investment properties. I assume this has by now been lodged with icb by my bank. Negotiations broke down last year with trying to do an informal deal)
     
  2. Jim Stafford

    Jim Stafford Frequent Poster

    Posts:
    294
    If you are an employee you need to read your employment contract and staff hand book very carefully.

    If you are working in IT, you are unlikely to be in a "Controlled Function" which is subject to a very strict regime. Please read the following link for a better understanding of what is a "Controlled Function"

    http://www.frielstafford.ie/persona...ss-probity-whilst-facing-possible-bankruptcy/

    If you are in independent contractor you are unlikely to have issues, particularly if you use a limited company to provide your services.

    Jim Stafford
     
  3. thedaddyman

    thedaddyman Frequent Poster

    Posts:
    637
    potentially yes it will as it is standard practice for a credit review done as part of a pre-employment screening. Be careful though if you are in independent contractor, it's possible in the small print of your contract is a requirement that you meet certain standards and if there ever was an issue and they asked to see a rating for you, it could give them a reason to exit you from the role