Reply to: Credit Checks

[TestMangler]

No, they won't. Credit checking agencies are pretty stupid, but they aren't that stupid: they won't take you as your own reference.

Yes, put down your Ltd as your employer, but use your accountant as your reference. That works for me every time.

WNS.

It really IS that simple. No need for any other made up opinions.

[Boo]

They have just offered a new extension for next year but said this is subject to satisfactory credit checks.

Are they credit checking you personally or your Ltd Co. ?

If you personally, then I'd just refuse to give the relevant details and insist on them checking your Ltd Co. Hopefully your Ltd Co. is clean ?

Boo

[centurian]

Back to the OP, I would ask two questions.

a. Is this a small finance shop, or a large IB
b. What scale of CCJ's are we talking about, a few small ones < 500, or are we talking in the thousands

If it's "small" for a) or b), you are probably fine. If it's the latter in both - you may have a problem. In large shops, the compliance dept will set absolute limits. Each bank will have a slightly different threshold - breach it and you are unfortunately out the door.

[nomadd]

Just to ride off this thread....

I am about to complete a credit check for a new role, who do I put down as my current employer? My Ltd or ClientCo?

It requires a reference at that place of work, which I know they chase up, so if I put my Ltd down, would they just contact me?

No, they won't. Credit checking agencies are pretty stupid, but they aren't that stupid: they won't take you as your own reference.

Yes, put down your Ltd as your employer, but use your accountant as your reference. That works for me every time.

[rd409]

If you have a company secretary, then get them to do it.

That's what I've done where clients are looking for a CYA to show that they checked whether I had any qualifications and that I could work legally in the UK.

Agreed.

[TheFaQQer]

Your ClientCo is not your employer, your ltd is. What harm does it do, if they contact yourself for reference? You are only suppose to say, yes, Mr Chana7 has been with this company for x years and y months. That's it.

If you have a company secretary, then get them to do it.

That's what I've done where clients are looking for a CYA to show that they checked whether I had any qualifications and that I could work legally in the UK.

[MCC7]

Your ClientCo is not your employer, your ltd is. What harm does it do, if they contact yourself for reference? You are only suppose to say, yes, Mr Chana7 has been with this company for x years and y months. That's it.

Ah ok, fair enough!

Thanks.

[rd409]

Just to ride off this thread....

I am about to complete a credit check for a new role, who do I put down as my current employer? My Ltd or ClientCo?

It requires a reference at that place of work, which I know they chase up, so if I put my Ltd down, would they just contact me?

Your ClientCo is not your employer, your ltd is. What harm does it do, if they contact yourself for reference? You are only suppose to say, yes, Mr Chana7 has been with this company for x years and y months. That's it.

[MCC7]

Just to ride off this thread....

I am about to complete a credit check for a new role, who do I put down as my current employer? My Ltd or ClientCo?

It requires a reference at that place of work, which I know they chase up, so if I put my Ltd down, would they just contact me?

[tarbera]

ok

1. has anyone been checked at extension stage and been terminated?
Yes 4 people from the bank last week

2. what are the legalities and do I have right of appeal?
No appeals process your out

3. any other advice?
Write to the lenders you have satisfied and throw youeselve at there mercy, enclose a cheque for a couple of hundred to cover admin fees and tell them you will lose you job if they dont remove the CCJ.

2 people i know have done this have had there CCJ removed (no skin off the lenders back) and cheques returned in full

good luck

[jmo21]

Thanks for the feedback.

Unfortunately, going permie won't help because there are still credit checks to get a permanent position so I wouldn't get a job that way either - I know people who were asked to leave one finance institution after they had actually started.

The mileage is sorted thanks (the extension would only take me to 21 months not 24).

I've been contracting for 11 years and only had this one break which was due to extreme circumstances so am well used the pressures. The reason for the sleepless nights is because the company has introduced this retrospective check right out of the blue. I'm used to seeing writing on the wall for early terminations and also dealing with end of contracts but this is a bit different and maybe I'm a little more sensitive about it because I've put the effort into sorting it out.

What they meant was permie in a place that does not require credit checks.

[Rachelle]

Thanks for the feedback.

Unfortunately, going permie won't help because there are still credit checks to get a permanent position so I wouldn't get a job that way either - I know people who were asked to leave one finance institution after they had actually started.

The mileage is sorted thanks (the extension would only take me to 21 months not 24).

I've been contracting for 11 years and only had this one break which was due to extreme circumstances so am well used the pressures. The reason for the sleepless nights is because the company has introduced this retrospective check right out of the blue. I'm used to seeing writing on the wall for early terminations and also dealing with end of contracts but this is a bit different and maybe I'm a little more sensitive about it because I've put the effort into sorting it out.

[Support Monkey]

2. You can't sleep because you may be terminated? Really? I can imagine it will be stressful because of what happened to you before but it is part of contracting. IF you cannot face time on the bench, the end of contracts etc then you go permie. People will flame me for saying this but is contracting for you if time on the bench bankrupts you and the thought of bench time makes you ill??? I know there are mitigating circumstances, just asking like.

Unfortunately NLUK is right, you have had some previous bad luck thats put you in a poor financial position and you have used this contract to dig yourself out of the hole and well done to you for that but you need to look long term (which is not something you can do contracting) and maybe go permie for a while until your on a better financial footing to not have to worry about termination

[Support Monkey]

I would think that the client will only look at what has changed after you joined them. The chances are that all the judgements have been on your file prior to that, and hence they already know it and are okay with it.

HTH. Dave.

That would be my thoughts also, if the judgment was on there when you started the contract then surely nothing has changed and especially if you now have the certificates of satisfaction recorded

[northernladuk]

I would think that the client will only look at what has changed after you joined them. The chances are that all the judgements have been on your file prior to that, and hence they already know it and are okay with it.

HTH. Dave.

Unforutantely I would disagree. There have been a couple of threads about people being credit checked after being with a client awhile recently. This could be down to the client restrospectively auditing people to make sure they are covered or possibly a change in role that requires it. Answers to your questions first...

1. has anyone been checked at extension stage and been terminated?
Dunno, never heard of it.
2. what are the legalities and do I have right of appeal?
None. This is a client security issue not a legal one
3. any other advice?
See below..
My agency doesn't seem too bothered!
They aren't as long as they get paid. They will sit up and take notice if you fail but that is only to get someone new.

They are looking to make sure you are risk working with financial systems. Are you likely to access the systems fraudlently to get money from them to pay of your debts in desperate situations etc. I would say a managed debt is NOT an final issue for them. An unmanaged debt spiralling out of control is. This is not a Credit check.. it is to check you are trustworthy.

If you have it covered and can demonstrate you have being paying it back and are stable I am sure you will be ok.

The two points in addition to this I would make are...

1. You should no longer be claiming mileage or subsistence from the minute you knew you would be there over 2 years. Read up on the 2 year rule (or 24 month rule).

2. You can't sleep because you may be terminated? Really? I can imagine it will be stressful because of what happened to you before but it is part of contracting. IF you cannot face time on the bench, the end of contracts etc then you go permie. People will flame me for saying this but is contracting for you if time on the bench bankrupts you and the thought of bench time makes you ill??? I know there are mitigating circumstances, just asking like.