Hi all. So I recently got an offer for a middle office analyst role at a private credit MF. Will a poor credit automatically cause it to be rescinded? For context, I am about 3 years out of college and was doing fine until a little over a year back. I fell on some hard times for a few months towards the end of 2023 and beginning of 2024 due to some unexpected evenrs. That has kinda left me playing catch up since then and has caused me to be delinquent on a few cards and loans. Total unsecured is ~55k. I am taking corrective steps though. I have retained an attorney for Chapter 13 to restructure all that under a single payment and will be officially filing 2/3 days before or after the background check is initiated.
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Based on the most helpful WSO content, poor credit can potentially impact your offer, especially in roles related to finance, as some firms may view it as a risk factor. However, it largely depends on the firm's policies and the specific role. For middle office roles at private credit MFs, the focus might be less stringent compared to front-office positions, but it's not guaranteed.
Filing for Chapter 13 could be seen as a proactive step to address your financial situation, which might work in your favor. Transparency is key here. If the background check includes a credit check, it’s better to be upfront about your situation and explain the steps you’re taking to resolve it. Firms may appreciate your honesty and efforts to rectify the issue.
If you're unsure about the firm's stance, you could discreetly reach out to HR or a trusted contact within the company to understand their policies regarding credit checks and financial history.
Sources: Offer rescinded what can I do now?, Seeking Advice - How to recover from being kicked out, CIB Credit Risk J.P. Morgan, Coronavirus, Q&A - research analyst at credit hedge fund
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