Credit History Check Services
If you are planning to hire a candidate to look after the finance or accounts of the company it might be a good idea to carry out a credit history check before finalizing him/her.
Let us look at some of these scenarios which highlight the importance of conducting credit history check of the candidate before hiring him/her:
- There are times when candidates omit relevant information from their credit history which makes it difficult to gauge their credit history in a correct manner. The problem is that you get a very limited time to check the credit background of the candidate.
- There are certain candidates who have past and present litigation which needs to be verified to get a true picture of the candidate’s credit history.
- If the candidate has secured loans, then it is important for you as a recruiter to scrutinize their past behavior when it comes to obtaining loans. Hence, you need to check how and when the candidate secured financing.
- There are times when candidates have already filed bankruptcy, which can only be found when you uncover their collections and bankruptcy records.
All these things make it compulsory for you as a recruiter to run a credit history check of the candidate before hiring him/her.
cFIRST understands the criticality of the situation, hence we carry out comprehensive credit history check services that help you select the best talent in the financial services industry.
What is Credit History Check?
A credit history check is run to identify information pertaining to:
- Your name and address
- Previous names and addresses
- Social security number”
According to Fair Credit Reporting Act (FCRA), in USA, an employer can get the credit history information about a candidate only after getting written consent and authorization from the candidate.
But there are certain US states that limit the use of pre-employment credit checks. They are:
Credit History Check Process Followed by cFIRST
cFirst follows due diligence in checking the credit history and status of candidates based on their information with the appropriate credit scoring agency. A credit check is a 2 step process.
- Get the consent of the candidate for checking their credit file.
- Get the candidate’s credit file from the appropriate agency or financial body (for example FICO in USA and CIBIL in India).
- Prepare the credit check report based on the scores and details obtained from the credit file.
Through credit history check, you can get a fair idea of the financial responsibility and stability of the candidate. cFIRST will provide you relevant information regarding the credit history of the candidate, which will help you make the wise decision of selecting a candidate for the crucial position in your organization. Avail our credit history check services today and select the best candidate.
- ISO 27001:2013 certified, PBSA, NASSCOM NSR empaneled company with 2,000,000+ checks
- Awarded and trusted by world’s largest companies
- Strong international presence and networks allow cFIRST to carry out intensive checks across the globe
- Best in-class service quality and excellent turnaround times
- Comprehensive, Customized Background Verification Solutions – across verticals and sectors
- Dedicated Drug Testing and Compliance teams
- Convenient data entry/report retrieval processes
- Top-notch, secure and technology-backed processes