How to approach application form 10 years after denial,
Do you omit you had a denial or do you respond “YES” there was a denial?
Reason for denial: Collection accounts
Current: Unable to settle accounts, accounts eventually dropped off credit reports and never re-applied, denial was in 2009.
You have to report the previous denial. They will find it instantly and you don’t want to look like you are hiding anything.
If your previous denial was for financial issues they are going to concentrate on your current financial situation. How is that? What can you do to mitigate the issues that you had in the past? Time is certainly on your side. What caused the accounts to fall be behind? Is it likely to occur again?
How are your finances now?
Hi Ed, you seem to be clued up on this, so just a quick question for you; Im a British citizen, naturalized American, I owned a house in the UK and once I moved to the US 7 yrs ago, tried to sell it, with Brexit, nothing is moving and in the end I decided to voluntarily hand the house back to the bank I’m not going back there so it made sense (no arrears everything was paid) The bank have now sold the property and I am happy to pay the small deficit. I’m currently having a Background check to take employment as an Investigator for SCIS. What are your thoughts? I ran my US credit check and its a great score, I just don’t want this possession in the UK to hamper anything here. Thanks M
Thanks for your reply
Military service separation, went unemployed for about 10 months
But I never took care of the accounts because all went to collections
Now all have dropped off my credit
I am wondering if same situation because it wasn’t resolved or paid will cause a denial again
Doesn’t the form ask if it has been a denial in past X amount of years or if a denial has happened period regardless of how long ago that denial was
Thank you Ed!
My finances are all in good standing now, thanks God!
I never re-applied because i couldn’t settle the debt at the time, in time all accounts dropped off my credit report.
My concern is if i do decide to re-apply for a new job opportunity, will they deny because i never settled the old collection accounts?
Is there a period that the forms ask of denial, perhaps, if the applicant suffered a denial in the past 7 years.
My accounts fell behind because of my separation from military service when i had a 10 month period of unemployment.
Finances are in excellent standing now.
If they are not on your current credit profile, then its nothing. They only look at what is on your credit at the time of the application. As long as all your debts are current your fine.
Well . . . Brexit wasn’t an issue seven years ago so I’m guessing that you didn’t try to sell right away. In some ways, I’m not sure that this will even come up since it won’t be on your credit report here. But, I think that you might want to be out in front of it anyway. It certainly could come up in an interview: Have you disposed of any property in the UK? Or something like that. You don’t want to have to lie and you don’t want to look like you were trying to hide it.
In the end, I don’t think that it will matter. You didn’t ignore the debt and the bank seems to be happy with the outcome.