would this mean no credit checks were nessasary?

[david.cs]

can someone in iva who has paid all payments up to date, and has no ccjs,arrears, take up a position as an appointed rep of a company selling mortages?if that person is a 10% shareholder in a company and not a director,would that mean no credit checks were nessasary?

[Andrew Graveson]

Hi David,
I have heard, but cannot confirm definitively, that you will be able to trade while in an IVA but not under bankruptcy. My understanding is that this is how the OFT will consider your application for or renewal of a consumer credit licence (which I presume you'll need - will you be self-employed or covered by an employers CCL?).
I'm sure the OFT could credit check, and an employer in financial services might consider that to be reasonable as well.
I'm not sure a minority shareholding would make a difference to the position.

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[mikebdomain]

Hi David

As an AR you would not need a personal CCL, this would be covered by your principle.

Likewise, whether or not a credit check is carried out will again be up to your selected principle as they are the ones that will have to sign off for compliance your credit worthiness and competence.

We credit check all our AP’s and AR’S and would employ someone currently in an IVA as long as there were explainable extenuating circumstances and the IVA was being conducted satisfactorily. Although our overall supervision would be slighter higher.


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