Pre-employmnet credit checks

zxcvbnm

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I know that if you look for employment in the finance sector that a credit check is done.

I know that these screening look for if you have any judgements, PIA/Bankruptcies.
I do not have those.

HOWEVER - I did come to an informal agreement wit my bank to write off the remaining debt via a small lump sum from a 3rd party. This will show in my ICB report.

Can anyone conform if this is also looked for in pre-employment screening for credit checks?

Or is it just formal inslvency such as judgements, PIA/Bankruptcy?
 
I know that if you look for employment in the finance sector that a credit check is done.
Not always. It depends on what you're doing. Under data protection the check can only be as extensive as the job dictates.

I've changed jobs multiple times, and never had a credit check.
An ICB check can only be carried out with your permission.

Note, you will be obliged to disclose certain details and they form part of your contract of employment.
 
Thnaks.

Yes - I work in IT - and it seems for any bank to work in a credit check is done.

But on the research i've done it states they only look for formal insolvency like PIA/Bankruptcy.
But i'm not entirely sure.

I don't know if they check for anything other than formal insolvency. But are informal loan write offs with banks also checked?

Experian website states that for pre-employment checks:
"When you request a pre employment credit check, our system will quickly scour numerous public and private databases for any adverse financial warning signs. We check County Court Judgements (CCJs), bankruptcies, voluntary arrangements, decrees and administration orders. "

And a company that I know banks use states the below re their background checks:

9. What is a Financial Probity check?
A financial probity check is a review of all publicly held financial information about you. The check is performed to identify any previous or existing County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs) or bankruptcies.

Please note that this check does not constitute what is commonly referred to as a ‘credit check’ as this information is not generally required as part of the pre-employment screening process."

However - Experian also give an example of a credit check for pre-employment
OROR
https://www.experian.co.uk/assets/background-checking/sample-reports/adverse-financial-check.pdf

As can be seen in that report they also have a field Number of adverse records'

Im unsure if missed mortgage paymnets/ loan write offs comes under this category. OR if an adverse record means instances of CCJ/Banruptcy?
 
Yes - I work in IT - and it seems for any bank to work in a credit check is done.
Are you looking at UK sites?

I've worked directly for 4 different banks here, and have never had a credit check. I'm senior enough at what I do.

I do know one of the UK banks operating here does carry out more detailed checks.
 
Yes - I am looking at UK sites. They are VERY thorough in their background checks. Im surprised you have not been credit checked in Ireland? (I haven't worked in Ielnd for last 8 years but am looking to move back. But if I fail credit checks then I will probably stay in UK)

I would have thought all major banks in irelan would at least have some credit check in place.

I do know that in Lloyds bank for example you cannot even work in catering area if you have been bankrupt.
 
Have a look at CBI fitness & probity standards. There's a section on "financial soundness" that covers it. Basically you have to show that your own financial affairs don't affect your ability to do the job.
At my level it's self declaration. Some will ask you to disclose any missed payments in 5 years. There's a condition in my contract that I keep my financial affairs in order.
For higher controlled functions there is a judgement search pre employment.
 
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