Even SC can vary as there are a few different flavours of it, such as Met Police SC, and MOD SC etc. Met Police is more stringent I believe.
Anyway, OP, just apply if you're interested in applying. Be totally honest about all answers - it's more about that than anything else I think (up to a point of course). If questioned about anything then it'll be how you deal with it, under questioning and what you did to resolve any issues. For example I know someone back in 2010 was having his SC renewed. They picked up on his ongoing bankruptcy. They were interested in how he was dealing with it etc and all was fine - just had to discuss it.
I always say 'nothing to lose' to people concerned about applying for clearance etc
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If found to be lying or hiding anything then of course it would be an automatic failure most likely