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Getting a Job in Financial Services with Poor Credit


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Hello,

 

I am currently applying for new jobs and have been offered an interview as a Relationship Manager for RBS. This job does involve giving financial advice and the job description does state that a credit search will be done. I'm writing to ask if anybody knows what level of credit search they will be doing?

 

My history is that I defaulted on three personal loans in 2010 and a credit card in 2012. I then worked to a debt management plan which I have remained up to date on without missing a payment. I am now using a redundancy payout to pay the remaining debt with a reduced settlement - 25% reduction on outstanding balances in return for repayment in one go. I do not have any CCJ's.

 

Does anybody have experience of this? Is it worth going ahead with the interview?

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That's a difficult question to answer.

 

Various agencies place different weights on your credit history. A friend of mine who works in the industry cannot have any black marks against her record at all, so you would be declined employment at that particular workplace. However, conversely, you may be successful if you have historic credit issues (over three years) but no CCJs.

 

I'd say it's still worth a shot. The worst that they can say is no!

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Hello,

 

I am currently applying for new jobs and have been offered an interview as a Relationship Manager for RBS. This job does involve giving financial advice and the job description does state that a credit search will be done. I'm writing to ask if anybody knows what level of credit search they will be doing?

 

My history is that I defaulted on three personal loans in 2010 and a credit card in 2012. I then worked to a debt management plan which I have remained up to date on without missing a payment. I am now using a redundancy payout to pay the remaining debt with a reduced settlement - 25% reduction on outstanding balances in return for repayment in one go. I do not have any CCJ's.

 

Does anybody have experience of this? Is it worth going ahead with the interview?

 

From what i know, CCJ would mean they could not employ you. Having a couple of defaults with a repayment arrangement showing is a discretion call on the HR of RBS. Given that the role requires you to offer financial advice, i suspect that RBS might want a very clean credit record. If you can pay off those accounts, so they are bang up to date that might be helpful.

 

I think RBS use Equifax mostly, so it might be worth having a look to see what it shows. Most CRA's offer a free trial period, so it might not cost you to have a look.

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Thanks for the info. I got the interview via a recruitment agency and have been open about the 2010 and 2012 defaults - I will make sure RBS know about this before the interview as I think this gives me my best shot with HR.

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