Poor credit rating affect job prospect?

[Melissa_Bettochi]

Good evening people,

I have a question to anyone who has gained a job or looking. I recently heard and I am unsure if this is true or not that having a poor credit rating would seriously impair the chance of a successful interview.

During my training, I suffered financially more so than envisaged and at present have a number of debts and what I suspect a terrible credit rating.

Would it appear that I am doomed, not the best news I have heard seeing that I will be looking for a job very soon.

Meli

[hollingworthp]

Didn't cause me any problems.

[Deputy Dog]

So how do you borrow £25,000+++ for type rating (many airlines ask you to pay up front) with a poor credit rating.

Question number one at 3 of my airline interviews was¨ how do you intend to pay for TR/Line training¨.

[hollingworthp]

I didn't have to pay for my TR & nobody should be paying for line training.

[Flightdeckone]

Please don't pay for a type rating, you're only demeaning yourself as a professional and in reality making things harder for you in the long run.
As for your financial position, well, that is not anybodys business.

All the best to you

[ei-flyer]

Here we go again...

[toeyshear]

It doesn't take long to go down that route again....

[Pilot Positive]

No it will not.

[portsharbourflyer]

Well, no one above has provided a factual or decent answer as usual for this website.

I can name two opertors where a poor credit rating will prevent you from gaining employment; Eastern Airways and Cityjet.

Do these two companies operate SSTR; no.
Do these companies offer a training bond; not really.

If you were to gain employment with Eastern or Cityjet, the airline takes a loan out in your name to pay for the rating; therefore you are neither putting money up front and you are not strictly speaking under a training bond.
If you have a poor credit rating then the Airline will be unable to secure the loan in your name. The airline makes the loan rapayments for the duration of your employment, until the laon is cleared (hence this has the appearance of a training bond). However if you leave the airline before the loan is cleared then the loan is in your name so you are liable for the rest of the payments for the loan term. If the airline goes bankrupt, the loan is in your name so you will still be liable. As it is not a training bond and a loan arrangement then there is no legal way to challenge this in the event of the airline going under.

I believe the Easjet TRSS was a similar arrangement (which is not running at present, the pay to fly schemes are now in place). So while there are alot of jobs where the credit rating will not be relevant; it is also incorrect to say it will not have an effect. I suspect there are a few other operators that use a similar system.

However, you will only get a bad credit rating if you have missed or defaulted on the repayments, a high level of debt may not necessarily mean you have gained a poor credit rating.

[Pilot Positive]

have a number of debts and what I suspect a terrible credit rating.

a high level of debt may not necessarily mean you have gained a poor credit rating.

Melissa do you know what your credit rating is? If not, might be worth checking to see what the reality is?

If you are servicing a high level of debt then you are likely to be deemed a profitable client (you're an ongoing revenue stream) and might even have a better credit rating than someone who has paid all their loans off up front.

Whilst portsharbourflyer makes a valid point about how some companies operate I think the majority of the answers given above are trying to say that you should not be put off your job search because of your level of debt.

[copywrite33]

AFAIK there are only a few jobs that will take into account your credit rating (Police, Military Intelligence and I think Banking). This is to make sure that you aren't susceptible to bribery due to debt.

I would be very surprised if an airline did a credit check on you, they would also have to ask your permission before doing so.

However it would not surprise me if certain FTOs did...

[no sponsor]

Credit rating no. Bankruptcy yes. In my T&Cs it is grounds for immediate dismissal if I am declared bankrupt.

[copywrite33]

Credit rating no. Bankruptcy yes. In my T&Cs it is grounds for immediate dismissal if I am declared bankrupt.

This is illegal. The only way it is legal is if you are a company director then you are banned from the role by law.

I assume from this statement that you work as a freelance pilot? or under a Brookfield contract?

[no sponsor]

No I don't work for Ryanair, but another low cost airline based in the UK.

It's in my contract. (Permanent employee)

[redsnail]

We need to use a company issued credit card for work. It might be an issue. Don't know for sure.

[hollingworthp]

Reddo - for our company it is not, I was a bit worried myself but my Amex came through without any problem.

[adverse-bump]

Question number one at 3 of my airline interviews was¨ how do you intend to pay for TR/Line training¨.

You had to go to 3 airlines and other to pay to fly for them before one would give you a look in...


ow my days!

[johns7022]

I can't speak to the prospects of applying for an airline only to state that in the interview if I was asked how 'I' would pay for training, I would probably start laughing....maybe ponder if everyone else in HR was on crack....

With regard to corporate aviation..expect a credit check, criminal background check, and atleast a few references checked...some employers are trying to make pilots sign training contracts...if they quit then they pay the boss back, ect....

The reason for a credit check is pretty simple.....medical bills aside...if you can't be trusted with a credit card, maybe you shouldn't be entrusted with the boss's jet, his family, use of his credit cards, deciding how to maintain the aircraft......etc

[copywrite33]

The reason for a credit check is pretty simple.....medical bills aside...if you can't be trusted with a credit card, maybe you shouldn't be entrusted with the boss's jet, his family, use of his credit cards, deciding how to maintain the aircraft......etc

I fail to see the validity in that statement. I, like many others on here i'm sure, have made a few mistakes in the past one of which has affected my credit rating. The day i turned 18 i went into the bank to pay in some cheques from family and the cashier proudly told me i was eligible for a credit card with a £2000 limit, whoppee thought me and took them up on that offer, a big shopping spree and a few nights in the pub were enough to run that upto its limit with no easy way of repaying it (i was a student), so i buried my head in the sand. I now know that it was a stupid and childish thing to do but I still have that black mark against me. Why should i suffer because of a mistake made 5 years ago?

I am fairly sure a prospective employer would have to ask for your side of the story first. Otherwise i'm sure there could be a case of discrimination against people with a less than perfect credit record, a majority i would imagine coming from the lower middle classes.

[adverse-bump]

Why should i suffer because of a mistake made 5 years ago?

because YOU made the mistake. When I turned 18 i too walked into a bank with a cheque, and got offered lots of credit, I said NO! i put into a saving account, and spent the money I earned working on check in too pay for my flying, knowing I wasnt it debt!