Question on Job credit checks - what do they look for? HELP

[Anonymous]

I am interviewing for a position in the HR department of a local bank.

My FICO is currently a 610. I am recovering from some credit card charge offs when I was about 18.  One of them (the major one) was ruled in my favor in court.

I am not sure what to expect as far as a job credit check.  What do they look for?   Will I pass?  I do have a couple accounts in collections from way back.  This one was ruled in my favor (the main dollar amt one for about $2,000) and the rest are a couple little accounts around $100 and $200.

They are so close to falling off my credit report from the 7 year mark - within a year to 2 - that I dont want to pay them and risk them being able to keep them on my credit report for additional amt of time. (this might lenghten the Statute of Limitations if I re-open the accounts or pay them)

If it comes down to it I will pay them and show proof to this job.  But I am wondering if that will be an option?  What do banks look for in credit checks? Will I be okay?

I will not be a teller or anything, I will be in the HR dept.

Please help.  Any knowledge will be appreciated. 

[Anonymous]

I think the big thing is the amount you are in debt and whether or not you are making an effort to pay.

And looking at if it is a trend.

[MattH]

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@Anonymous wrote:

I think the big thing is the amount you are in debt and whether or not you are making an effort to pay.

And looking at if it is a trend.

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An even bigger thing with nearly any background check is whether they first learn of any negative information directly from the applicant or from other sources.  It is nearly always best for the applicant to disclose such things directly, accompanied by a well-reasoned and convincing explanation of what has changed, what has been learned, so that he or she will not repeat past mistakes.

[Anonymous]

mattH -- How do I go about doing that?   I don't really want to bring it up at the interview.

Should I include it with my application.  I am not sure what to do.  Because I dont want to draw attention to it if it's not going to hurt me.

I am more than willing to explain and document. I just don't know when is the appropriate time to mention it and stay professional.

The first interview doesn't seem like a good time to me?  I want to see if I would even get considered for the job first without disclosing any baggage.

[RobertEG]

I agree with Matth.

What they are looking for is any way that anyone can press demands on you that would cause you, through denial or embarassment,  to comprise your responsibilities to your employer.

It is a simple as that. 

I ran an organization within the federal government for 20 years that requried all my employeees to have at least a Secret national secuiity clearance, and many to have Top Secret.

So my observations.

No, dont bring prior credit problems up in a job interview.  I agree, that is just plain stupid.

If they are interested, and they then do a credit pull, then NEVER lie  to them about anything that is accurate in your CR.

What they are looking for in their background check is any indication that you are hiding anything that may subject you to coersion, and thus compromise, of your responsibilities with them.  What you admit removes this threat.  You cannot be coercised upon threat of disclosure of anything you have previously admitted to, and acknowleged.  Yes, high debt is still a risk factor, but as you have said, show them, straight up, how you are addressing it.

I have had many employees granted high level security clearances with admitted prior misdemeanor drug use, and then, on the other hand,  many others denied even the lowest clearance for denying, and thus concealing, very minor drug or credit problems.

Just be honest.  That, in a nutshell, is what they are looking for.

[Anonymous]

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@Anonymous wrote:

mattH -- How do I go about doing that?   I don't really want to bring it up at the interview.

Should I include it with my application.  I am not sure what to do.  Because I dont want to draw attention to it if it's not going to hurt me.

I am more than willing to explain and document. I just don't know when is the appropriate time to mention it and stay professional.

The first interview doesn't seem like a good time to me?  I want to see if I would even get considered for the job first without disclosing any baggage.

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I would bring it up when asked about your credit. 

I just went through my interview.  I was specifically asked about my credit, and the items on my CR.  I explained each one, paid, not mine, making payments etc.  Anything over $1000 I had to sign written consent for them to contact the OC directly.  (I am military and not sure you would need to do this).

[AndySoCal]

Here is a link on the subject

http://www.experian.com/credit-education/employment.html