Reply to: Screening differences across financial sector

[centurian]

Anyone been knocked back for a CCJ not on the credit file / more than 6 years ago. I have some very old CCJ's from my ealry 20s.

The screening forms ask you to declare all CCJ's, not just those in the past 6 years (although I wonder if they have any means to check prior to 6 years). So I duly declare them - and so far, no problems.

Just wondering if anyone has been knobbled by this.

[Mrsbrown]

Current Rules today in large state funded Retail bank, and is the bain of my life as I waste so much time interviewing only to have them pulled 3 weeks into the process

Ok thanks..

I'm looking more at life & pensions now tbh...I'm sure the same kind of vetting will apply..agent,company, who's pressing the button etc...

[tarbera]

Indeed

I will write to ask for the 2 Satified defaults i have to be removed...

Tarbera...is your experience above related to banking?

Current Rules today in large state funded Retail bank, and is the bain of my life as I waste so much time interviewing only to have them pulled 3 weeks into the process

[ChrisPackit]

I specialise in working in the Banking sector, retail not so much IB. I had a CCJ registered against me for £600 by a company who was sending correspondance to an old address. When I heard about it, I went straight back to court and got it Struck Off which has come off my credit record with Experian - not sure about the other big 2 agencies though. I had a period of 5 years off contracting and didn't realise what importance your credit file has for getting a contract. When I checked it was like 350 on the CreditExpert score which is pretty bad, so spent a while cleaning it up. Getting on the Electoral role, removing old bank accounts that weren't used etc. Before you know it, I was back in the Excellent category.

Touch wood, I'm in my 5th finance contract in 3 years, walked out of one into another with no questions asked, though I have been honest about it all though.

I think if you're relatively 'clean' you would be OK getting into most places. If not, a little bit of leg work mat be required before you do.

Hope this helps...

[Mrsbrown]

9 of the last 19 contractors I (or manager opposite) have interviewed for BA's/PM/Data Anal's and offered contracts for have failed the credit check and we have had to withdraw the offer.

100% of the reason is Defaults > £500 (satisfied or outstanding it matters NOT) even if you settled a default 5.11 years ago if it was > £500 you will be rejected.

if default if between £51 and £499 you have to justify it and can get in

Less than £50 - no issue

so nothing to do with missing the odd payment here and there. ONLY defaults satisfied or outstanding, If they are on your 6 year credit file your not getting in.

So some advice as 1 chap has now joined after getting his default removed - Sell stuff and settle your defaults in full.

then send a very nice letter to AMEX/BT/Sexy Maids Company who have reg the defaults against you telling them it was all a terrible mistake (blame your wife/dog/lover for not paying at the time) and beg for mercy, enclose a cheque for a grand for a processing fee etc, do everything to get these removed from your record. Otherwise you are completely fecked

I will write to ask for the 2 Satified defaults i have to be removed...

Tarbera...is your experience above related to banking?

[oliverson]

9 of the last 19 contractors I (or manager opposite) have interviewed for BA's/PM/Data Anal's and offered contracts for have failed the credit check and we have had to withdraw the offer.

100% of the reason is Defaults > £500 (satisfied or outstanding it matters NOT) even if you settled a default 5.11 years ago if it was > £500 you will be rejected.

if default if between £51 and £499 you have to justify it and can get in

Less than £50 - no issue

so nothing to do with missing the odd payment here and there. ONLY defaults satisfied or outstanding, If they are on your 6 year credit file your not getting in.

So some advice as 1 chap has now joined after getting his default removed - Sell stuff and settle your defaults in full.

then send a very nice letter to AMEX/BT/Sexy Maids Company who have reg the defaults against you telling them it was all a terrible mistake (blame your wife/dog/lover for not paying at the time) and beg for mercy, enclose a cheque for a grand for a processing fee etc, do everything to get these removed from your record. Otherwise you are completely fecked

Utter rubbish. Aforementioned mate has several Defaults on his file and still owes loads (won't disclose how much but says it's in the tens of thousands).

Moreover is it the end of the world if you do get knocked back? The banking sector is shrinking in size and permanently (thank god) We are witnessing a return to manufacturing and that's a good thing.

[tarbera]

some insite

I have a issue is that I recently got turned down for a banking role due to adverse info on my credit file. This has happened before a few years ago.
I have no CCJ's, bankruptcy or anything like that but a few defaults some of which are satisfied another still being paid off and open but a reasonable amount.

These are 4 years old now. The high street bank is a big name and I was told 5 years is the length of time they go back.

Oddly for another bank I was told 3 years screening which I would be ok.

My question here is that what's the general criteria for

A) banks which I'm pretty much resigned to not being alble to work for for the next 12 months
B) insurance firms? Again I was I formed recently that screening would be done by the end client but the limiting factors would be CCJ's or bankruptcy
C) life and pensions companies? As of the above?

Ive read with interest here that the larger banks seem to be the most strict in this respect but experience of insurance and Life companies would be most appreciated.

Many thanks

9 of the last 19 contractors I (or manager opposite) have interviewed for BA's/PM/Data Anal's and offered contracts for have failed the credit check and we have had to withdraw the offer.

100% of the reason is Defaults > £500 (satisfied or outstanding it matters NOT) even if you settled a default 5.11 years ago if it was > £500 you will be rejected.

if default if between £51 and £499 you have to justify it and can get in

Less than £50 - no issue

so nothing to do with missing the odd payment here and there. ONLY defaults satisfied or outstanding, If they are on your 6 year credit file your not getting in.

So some advice as 1 chap has now joined after getting his default removed - Sell stuff and settle your defaults in full.

then send a very nice letter to AMEX/BT/Sexy Maids Company who have reg the defaults against you telling them it was all a terrible mistake (blame your wife/dog/lover for not paying at the time) and beg for mercy, enclose a cheque for a grand for a processing fee etc, do everything to get these removed from your record. Otherwise you are completely fecked

[JoJoGabor]

A mate got marched offsite last week for having a CCJ, not sure if he'd declared it or not though. That was not a bank, but large financial services client

[Mrsbrown]

I worked at a finacial data provider and they checked everything, even phoned agent, client manager and client HR for every role. Recently started at insurance company, and all they asked for was an initial contract for each roel.

I think it really depends on the client/screening company and the person doing the checks

I don't think I've got many options tbh..

Have to keep plugging away and apply for stuff, it's on the forms I'll disclose it obviously.

Has anyone been turned down for a non banking role for any reason as a result of screening?

[JoJoGabor]

I worked at a finacial data provider and they checked everything, even phoned agent, client manager and client HR for every role. Recently started at insurance company, and all they asked for was an initial contract for each roel.

I think it really depends on the client/screening company and the person doing the checks

[Mrsbrown]

Mate of mine has a few defaults on his credit file but nothing else. Hasn't stopped him working the banks in the City for years.

I think you've just been unlucky or the roles you're applying for attach increased importance to it (mate's a developer).

You've got to see the irony haven't you. It should be us checking those f***ers!

Yea...bad credit=no job, bank bad credit=few billion in government aid...

Back on topic....I'm leaving the banks to one side...insurance and life companies will I'm sure check my file....I'm just hoping ( never good I know) the other parts of the sector are less stringent...I spoke to an agent regarding an insurance role and was told no CCJ's or bankruptcy was the bar..

[Jeebo72]

I have a issue is that I recently got turned down for a banking role due to adverse info on my credit file. This has happened before a few years ago.
I have no CCJ's, bankruptcy or anything like that but a few defaults some of which are satisfied another still being paid off and open but a reasonable amount.

These are 4 years old now. The high street bank is a big name and I was told 5 years is the length of time they go back.

Oddly for another bank I was told 3 years screening which I would be ok.

My question here is that what's the general criteria for

A) banks which I'm pretty much resigned to not being alble to work for for the next 12 months
B) insurance firms? Again I was I formed recently that screening would be done by the end client but the limiting factors would be CCJ's or bankruptcy
C) life and pensions companies? As of the above?

Ive read with interest here that the larger banks seem to be the most strict in this respect but experience of insurance and Life companies would be most appreciated.

Many thanks

Depends. All have checks, however I've worked at one IB where they were so desperate to get me in I started work before the checks took place. Then they forgot to do the checks as I was already there. The next place I worked, also needed checks, and asked "as you worked at XX I assume you've already had them" ... to which I said yes. They didn't bother either. So this is a long way in saying you may get lucky ...

[oliverson]

Mate of mine has a few defaults on his credit file but nothing else. Hasn't stopped him working the banks in the City for years.

I think you've just been unlucky or the roles you're applying for attach increased importance to it (mate's a developer).

You've got to see the irony haven't you. It should be us checking those f***ers!

[nomadd]

My question here is that what's the general criteria for

A) banks which I'm pretty much resigned to not being alble to work for for the next 12 months
B) insurance firms? Again I was I formed recently that screening would be done by the end client but the limiting factors would be CCJ's or bankruptcy
C) life and pensions companies? As of the above?

Ive read with interest here that the larger banks seem to be the most strict in this respect but experience of insurance and Life companies would be most appreciated.

Many thanks

There aren't any "general rules", as the Financial Institutions change their agencies/screeners on a regular basis.

This morning, for example, all the contractors in the IB I work for have been told they have to "redo" the entire screening process with a new screening company. I've been here 2 years now, and had a 5 year check before I started on-site, but it makes no difference: I have to go through a "7 year screening check" all over again.

And they say the Banks waste money...

[Mrsbrown]

Have you checked your credit history using experian or something like that. Credit history goes back 6 years so not so sure why they say 5. You also mention your defaults as if it is a casual thing? It isn't.

I don't the exacts but if one finacial firm doesn't find you suitable to work on their financial systems I would be very surprised if others have a more lax approach whatever the industry.

First job is get your credit history and clean it up as best you can. Relying on one of the banks having a role for you AND a more lax checks system is a pretty long shot.

Yes ive checked my file. I mention 5 years as this was how far the check was based on not 6 years as I know the info is held on experian etc for this length of time.

I'm not really looking at banking now to be honest. I'm looking at other non banking roles. My question is that although FSA regulated different sectors I.e. insurance and pensions the criteria seems to be different, the banking industry taking these to the extreme...

I'm looking for opinion on the non banking roles and keen to understand the criteria for those.
Thanks