What does this statement mean about a credit check?
“Past Due: More than $10,000 in total currently past due and/or in collections over three or more accounts, you will not pass”
Not sure how to take this statement. Does this mean if I have 3 or more accounts in collections I will not pass the credit check or does it mean they have to add up to $10,000?
I am applying for a job and this statement was in the credit check portion… I have 3 or more accounts in collections but all of my debt together is not where near $10,000. I have more medical bills than anything.
Either one.
When it says “and/or” that means if you have either one, you will not pass.
with 3 or more accounts you owe over $10,000 total
Did you ask the source of the statement? That’s the best way to get an accurate reponse.
If you already applied for credit and got this statement, they are saying you have 3 or more accounts that total more than $10K that are past due or have been turned over for collection.
ETA: Be honest with your proposed new employer. Tell them you will contact the collectors immediately and work out a payment plan, even if it’s not more than $10 a month to each of the three accounts.
The key word is “total”.
You won’t pass
You will not pass IF:
You have more than 10k in currently past due accounts OR
You have 3 or more accounts in collections
Since you have 3 accounts in collections, you will not pass their credit check.