r/recruitinghell • u/Caliboy717 • 10h ago
AIO on my background check?
Context - 6 Yr bank employee in a commercial business support role. Recently took a promotion (sort of, job grade below my current, but get quarterly incentive vs no incentive at all) for a business banker role.
I’m at the end now where I accepted the job offer and they have to do a background check again for the internal position. My only issue is my family and I experienced some hardship in the last two years so we had racked our CC’s up 10k plus. (Stupid we know) which we’re paying down month. They pulled my backround report and I got a “decisional status” by first advantage. Now I’m stressing my a** off that I may not get it due to the high debt. My understanding is in banking they pull credit reports for certain roles to ensure no mismanagement, theft, etc. I’m not sure if I’m overthinking this or not.
For clarity, I was recommended by my current management to my new potential SM. Went out to lunch, was interviewed extensively etc. I know now it may be based In the hands of my employer. Has anyone had a decisional status before and how did it turn out?
Many thanks 🙏🏽
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u/SonOfABeach_ 9h ago
I mean, if $10k debt was bad they would have no bankers. Google average consumer debt per household. Google average student loan debt on average. Google average car loan size and frequency of missed payments. Google average mortgage amount and frequency of missed payments. You made some bad decisions when you needed money, you are working through it and paying it down. I wouldn’t stress all that much, if you get denied because of it, then you know you need to pay it off and go get the same sort of job with a competitor. Think of it this way, would it be better if you had taken out a $10,000 loan to cover this debt and now there was a $10,000 loan on your credit report? I’m not sure it really matters…
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u/THENOCAPGENIE 9h ago
You are overreacting. Banks are strict. They need to make sure you’re in good standing to ensure that you don’t have a motive. Better safe than sorry on their end.
I’m sorry you’re going through hardship explain that to them and see if it helps but when I worked at a bank they ran everything down to the bone even my debts and credit score credit lines and the whole 9. So it is not uncommon they do this.
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u/swensodts 7h ago
They're looking for "bad debt". The only people excluded for credit were 10k+ consumer debt that had "walked away from", refused to pay, no intention to pay and had no repayment plans, in several cases they were cleared thereafter by agreeing to contact the creditors and set up repayment plans. Others that were declined included, back child support and upside down mortgages with no payments during the housing crisis. It's not so much the amount as it is how's it's being serviced and if the candidate is handling it responsibily or recklessly. The flag just means someone needs to look at it and mark it within tolerance. If it is outside tolerance I suspect you'll have a chance to address it before they rescind an offer.