CFA Charterholder here with investment advisory experience in mid-tier consulting. Had some bad luck and health implications pre-COVID that meant I racked up more debt than I anticipated. Eldest brother, felt the pressure to keep providing even when it didn't make sense, and never really wanted to ask anyone I knew for help. Managed it for a few years but by end of 2024 it had become unmanageable and I entered a DMP. As a result I'm getting defaults on my file, as expected.
I'm now applying for new roles and getting to interview stages, but worried background checks will flag the defaults and I won't be able to progress - some of the roles I'm going for are SMCR regulated (UK regulatory framework for financial services, for context).
I'm thinking about getting ahead of it by proactively disclosing to the hiring manager at offer or late-stage interview - framing it around the DMP and the fact I took a structured approach rather than ignoring the problem. Has anyone done this? Did it help?
Has anyone navigated SMCR roles or financial services hiring with defaults on their file? Is this a dealbreaker, or should I be looking at different industries?