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vinceohanlon
2nd March 2011, 19:48
Hello

I'm new here: I'm actually at the end of my first year's contract and have managed to secure another one.

I have been asked to fill in a lengthy Powerchex application, which asks a LOT of questions.

Anyway: I don't have anything like CCJs or defaults, but my credit rating isn't amazing because:- I rent accomodation and have moved around a lot in the last 5 years, and I've missed a few payments on my credit card in the last year.

Anyone know what checks Powerchex do? Do they really need to go into my full credit history or are the just checking that there aren't any nasties in there?

Any idea?

Vince

MarillionFan
2nd March 2011, 19:55
Hello

I'm new here: I'm actually at the end of my first year's contract and have managed to secure another one.

I have been asked to fill in a lengthy Powerchex application, which asks a LOT of questions.

Anyway: I don't have anything like CCJs or defaults, but my credit rating isn't amazing because:- I rent accomodation and have moved around a lot in the last 5 years, and I've missed a few payments on my credit card in the last year.

Anyone know what checks Powerchex do? Do they really need to go into my full credit history or are the just checking that there aren't any nasties in there?

Any idea?

Vince

Do a search of the site using the facility above.

There are plenty of discussions on Powerchex.

vinceohanlon
2nd March 2011, 20:06
Do a search of the site using the facility above.

There are plenty of discussions on Powerchex.

Yeah I've had a look around and can see one that you started, but nothing specifically around what checks they are doing in the 'credit' area.....

MarillionFan
2nd March 2011, 21:23
Yeah I've had a look around and can see one that you started, but nothing specifically around what checks they are doing in the 'credit' area.....

The main issues with the Powerchex check is that it's just irritating.

So from a 'credit check' perspective the fact you have missed payment is not a red flag. If you were a bankrupt, struck off company director, criminal check etc this is going to be a problem. They didn't do a 'credit rating' and what business is it of theres.

They did actually check up on old contracts and they did phone all of the references I provided. But when I did mine, I forgot I had more than one LTD company during the last five years and they didn't find it. In fact, they only checked what you gave them, so short of the criminal check, if you said you contracted at the same place for two years, but had in fact been kicked off a site after being somewhere for 6 months then actually they couldn't find that. So it was an expensive load of bollocks IMO.

vinceohanlon
2nd March 2011, 21:36
The main issues with the Powerchex check is that it's just irritating.

So from a 'credit check' perspective the fact you have missed payment is not a red flag. If you were a bankrupt, struck off company director, criminal check etc this is going to be a problem. They didn't do a 'credit rating' and what business is it of theres.

They did actually check up on old contracts and they did phone all of the references I provided. But when I did mine, I forgot I had more than one LTD company during the last five years and they didn't find it. In fact, they only checked what you gave them, so short of the criminal check, if you said you contracted at the same place for two years, but had in fact been kicked off a site after being somewhere for 6 months then actually they couldn't find that. So it was an expensive load of bollocks IMO.

It seems like a lot of effort.

What's more frustrating is that the client are willing to take me back without interview because they know me well and I used to be a permie there.

It was the 'credit rating' that was worrying me with all the questions. See what happens I guess. I'm generally a good boy.

MarillionFan
2nd March 2011, 21:44
It seems like a lot of effort.

What's more frustrating is that the client are willing to take me back without interview because they know me well and I used to be a permie there.

It was the 'credit rating' that was worrying me with all the questions. See what happens I guess. I'm generally a good boy.

Actually I was pulled up on credit as part of a CIFAS check. My identity had been stolen a few years earlier so when they did the credit check alarms bells went off. But that was easily sorted.

Good luck with your new banking role.

vinceohanlon
2nd March 2011, 21:48
Actually I was pulled up on credit as part of a CIFAS check. My identity had been stolen a few years earlier so when they did the credit check alarms bells went off. But that was easily sorted.

Good luck with your new banking role.

Cheers: thanks for your help.

I also need to move to Ltd Company as part of this transition: starting on that now.