Background Check HELP CREDIT CHECK
Hi I need to ask this question..... Recently interviewed at MSSB for FA Trainee program and have been extended an offer pending background/credit check. I have a question regarding background/credit check. I had some severe financial hardship and was not able to keep up to date on my credit cards a few years ago when i was undergrad. I lost my job and was not able to pay my credit cards. I had a total of 5 cards ,1 of them was settled after being 30 days late in 2009. 2 of them were CHARGED OFF and settled one year ago once i saved up some money they were PAID. The other two credit cards one was with citibank and one with GEMB. They both had judgments put against me but they were SATISFIED as soon as i was able to save up the money to pay it( gemb in march 2011 and Citi in October 2011). For the last 6 months i have two or three low limit credit cards that are in good standing and one personal loan that is in good standing and my credit score is 575-605..... My question is will this prevent me from passing the background credit check? Will they see this on my credit check? Will they deny me? I heard people on these forums saying they only care about bankruptcy and foreclosures??? I did everything i could to get these debts paid off as soon as i could i finally was able to do it last year. I fell upon an unfortunate hardship and was really not within my control but made every effort to pay it off which I have documentation showing that i paid everything off, for the judgements and the charge off settlements. PLEASE HELP!.....I was never arrested or ever did anything bad, just a few blemishes on credit report.
PS One of the questions asked if was ever bonded , so i am assuming they will want to bond me.....
Thanks!!
Curious as well, had some problems years ago. I've rebuilt significantly, but wonder how this could affect me. Is there a minimum credit score requirement at banks? Do MBA programs look at credit score?
how the fuck did you get 5 credit cards? teach me
anyone?
I was curious about this too. From what I read on the threads that I listed, IBD doesn't care as long as your credit is decent now. They don't even care about BK if it has been discharged. I am not an authority on this and I am just summarizing what I read on those threads.
If I am wrong and someone has experience with being discriminated due to BK/foreclosure/etc, please feel free to correct me
I hope you get an answer to your specific question, but if you don't, the following links might help you:
//www.wallstreetoasis.com/forums/background-checks-5
//www.wallstreetoasis.com/forums/background-checks-4
//www.wallstreetoasis.com/forums/bad-credit-precludes-licensing
//www.wallstreetoasis.com/forums/goldman-sachs-credit-check-0
//www.wallstreetoasis.com/forums/credit-check
thanks... anyone else have a take on this?? i wouldn't think judgments that arise from a financial hardship and then are satisfied would fail a credit check??
They don't care about this at all as long as you are in good standing NOW.
You can have a 500 credit score and no one will care.
how do you guys know this for sure?
anyone else know anything about this... someone in HR field would help...
anyone?
Background check -- bad credit?? (Originally Posted: 02/29/2016)
I'm set to start FT in July at a MM IB in NYC, but my credit is poor. I don't have any bankruptcies, but I do have a few collections which I'm paying off and other derogatory accounts. Does credit appear on these things, and if so is this a deal breaker?? I'm very nervous about this
I actually think that is a dealbreaker. You should pay these off asap.
You THINK this is a dealbreaker, or can you cite an example or an experience?
bump -- please help
I don't think this is important
Credit Report in Background Check (Originally Posted: 06/10/2015)
Hi- I am wondering what the employers are looking for that would serve as a red flag in a credit report. Bankruptcies, late payments, liens etc. all seem obvious. But, is a bank going to judge someone if they choose to run a fairly high credit card balance across a few credit cards (call it $15-20k). Some of that was due to medical expenses and too much pride not to ask my parents for money and one is on a $10k credit limit that is interest free for a year so why not use the "free" credit? I had never worried much about my credit score but have read a lot of conflicting stories. I'd love to hear from anyone with insight and if anyone has been denied a job due to their credit report any specifics you can share would be appreciated. Ultimately, I could ask my parents for $20k to pay down the debt if it were between that and losing a job opportunity but I would REALLY rather not do that for obvious reasons. Thanks!
Bump
Credit Card Debt in Background Check (Originally Posted: 08/09/2010)
Hi guys,
In a bout of paranoia, I've realized that I have quite a bit of debt. Will this affect my background check for a bank? I have almost 100k of student loans to my name, which my parents pay off every month. I also have about $5k of credit card debt and $5k personal loan. Would this be red flagged in my background check? I have no problem servicing my debt, and definitely won't if I get a job, but just wanted to check.
Thanks.
as long as it's all in good standing, i wouldn't worry about it
Bump...is current credit card debt (no late payments) of fairly significant amounts a problem in a background check? Or, are they only looking for judgments, liens, etc?
I can't imagine why it would be if all in good standing
Credit score for background check (Originally Posted: 10/30/2007)
Does this affect anything if I don't have any bankruptcy, liens, foreclosures, or even loans?
I missed 1 or 2 payments on cards and completely forgot to pay electricity when I was gone during summer, so my score is something like 590 (rated between poor and fair). Would that get me in any troubles when banks do background checks? Or I am just freaking myself out?
Thanks in advance.
Not an issue. Don't worry about it.
Agreed
Thanks.
BB credit check? (background check) (Originally Posted: 03/23/2013)
How does a BB check your credit? I am considering applying for a new credit card soon and I want to know if their credit check will show up as an inquiry. I have a good score (above a 760) but I believe any inquiries will make your score drop.
Don't worry
Only "hard" inquiries lower your credit score, and I believe most (if not all) background checks are considered to be "soft" inquiries
Employer credit checks are soft pulls. You'll be fine. Charge it!
BB FA JOB POOR CREDIT Background Check HELP!!!! (Originally Posted: 04/05/2012)
I Recently interviewed at MSSB for FA Trainee program and have been extended an offer. I have a question regarding background/credit check. I had some severe financial hardship and was not able to keep up to date on my credit cards a few years ago when i was undergrad. I lost my job and was not able to pay my credit cards. I had a total of 5 cards ,1 of them was settled after being 30 days late in 2009. 2 of them were charged off and settled one year ago once i saved up some money they were PAID. The other two credit cards one with citibank and one with gemb i had judgments put against me but they were SATISFIED as soon as i was able to save up the money to pay it( gemb in march 2011 and Citi in October 2011). For the last 6 months i have two or three low limit credit cards that are in good standing and one personal loan that is in good standing and my credit score is 575-605..... My question is will this prevent me from passing the background credit check? I heard people on these forums saying they only care about bankruptcy and foreclosures??? I did everything i could to get these debts paid off as soon as i could i finally was able to do it last year. I fell upon an unfortunate hardship and was really not within my control but made every effort to pay it off which I have documentation showing that i paid everything off, for the judgements and the charge off settlements. PLEASE HELP!
PS all my negative accounts have been PAID
As long as you did not have bankruptcy, you should be fine.
If they bring it up (which they almost certainly won't), just explain the situation. Students do stupid things. Just say you learned a good lesson. You're fine.
Background check- credit information? (Originally Posted: 01/31/2011)
hey guys, sorry really quick question. what does it mean by credit information that you are required to list on your background check?
The form tells me 'please list all previous address with postcodes for the last 6 years, including term line and overseas addresses if applicable continuing on a separate information if necessary. Please do not include your current address'
I know this is a dumb question, but I have no idea what this means. I have never kept a credit card, and I have is a debit card. So, how do I approach this?
Thanks a lot people!!!
Just follow the instructions. It's asking for all addresses in the past six years; put them all down.
If they run your report and find no credit report, then they find nothing. Not having any credit shouldn't disqualify anybody. Any student loans, etc, will be on there. Like Illini said, just follow the instructions.
Doesn't seem worth worrying about
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