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Credit Background Checks
Many landlords and credit providers find it essential to check a prospective tenant’s credit history to determine the probability of the prospective tenant honoring all rental payments.
We run a Combined Credit Check report obtained from with all 4 bureaus XDS, TransUnion, Experian & Compuscane, reporting repositories will show the various credit lines, loans, outstanding balances and payment history.
Our comprehensive report also may include previous addresses along with certain civil actions and bankruptcy information.
Our Process
We only need an ID copy with and a signed consent form of the client to do a check, and we will provide the information in less than 5 hours
Why work with us?
We help you determine the applicant’s financial situation and payment responsibility. Potential employers don’t see an applicant’s credit score, but they get a modified credit report showing debt and payment history. We assist employers check credit to get insight into a potential hire, including signs of financial distress that might indicate risk of theft or fraud.
Benefits of running credit checks
Without a positive cash flow, your business will run into difficulty managing the day-to-day cash requirements. Running a credit check on candidates/clients will help you determine whether they will pay you on time so that you can make the necessary arrangements. Maintaining a positive cash flow is highly dependent on predictability; the better you can predict when you’ll get paid, the better you can plan.
Bad debt is every business’ worst nightmare. By running a credit check on a candidate, you will be able to find out their creditworthiness and their likelihood of paying the debt.
The more you risk, the bigger the reward should be: that’s the general rule of business. If you are going to risk giving credit to a person, you want to impose an interest rate that matches that risk. Credit checks will help you determine the level of risk.
If you are looking for a long-term partner, this information is important. You don’t want to invest in a business relationship and then have it end because your partner went under. By conducting a credit check, you can tell whether a company is healthy or not.
Credit is a transferable asset. If you are looking to buy a business, a good credit rating will make a business more valuable as you can ride on it once you acquire the business.
What are the contents of a credit check?
A credit report contains a gold mine of information for a prospective landlord or credit provider. You can find out, for example, if a person has ever filed for bankruptcy or has been:
- late or delinquent in paying rent or bills, including student or car loans
- convicted of a crime, or, in many states, even arrested
- evicted (your legal right to get information on evictions, however, may vary among states)
- involved in another type of lawsuit such as a personal injury claim, or
- financially active enough to establish a credit history.
Information in credit reports covers the past seven to ten years