Hi Everyone,
I am in the process of beginning my background check and it’s just now coming to light that I have a default judgement from a creditor from 2021 for ~$2,800.
Unfortunately, I do not have the money to pay this right now. Will this affect my ability to pass my background check? I will disclose it.
The role I’m applying for is a front office sales and trading role.
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Based on the most helpful WSO content, navigating a background check with a financial hiccup like a credit default judgment can indeed be a concern, especially in the financial services industry where creditworthiness can sometimes be seen as a reflection of one's ability to manage finances. However, the impact of such a judgment on your background check can vary based on several factors:
Disclosure: You mentioned that you plan to disclose this judgment upfront, which is a positive step. Transparency is key in these situations. It shows integrity and the willingness to take responsibility for past issues, which can be viewed favorably by employers.
The Role's Nature: Since you're applying for a front office sales and trading role, the focus might be more on your skills, experience, and the ability to perform in the role rather than solely on your financial history. However, it's important to note that financial roles do often place a premium on candidates' financial reliability.
Employer Policies: Different firms have different policies regarding credit checks. Some might be more lenient and consider the circumstances surrounding the credit issue, especially if it's relatively small and you have a plan to resolve it.
Overall Background and Skills: If your overall background, skills, and qualifications are strong, this might help mitigate the concern regarding the default judgment. Employers often look at the candidate's entire profile before making a decision.
Regulatory Requirements: For certain roles, especially those that involve handling money or financial decision-making, there might be regulatory requirements that necessitate a clean financial history. It's worth researching if such requirements apply to the role you're applying for.
In conclusion, while a credit default judgment can raise questions during a background check, especially for a role in the financial services industry, it doesn't automatically disqualify you. Being upfront about it, demonstrating your qualifications for the role, and showing a proactive approach to resolving the issue can all work in your favor. Remember, each case is unique, and employers can have different thresholds for what they consider acceptable.
Sources: Background check for operations - How bad is this??, Worried about getting an IB job after an arrest?, It's still possible to break in, in this economy, HELP: The Future of the S&T Job Market and Selecting the Right Desk, The best of the back (or middle) office?
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