Credit Investigation Flashcards
A procedure undertaken by a financial institution to vet a potential client’s ability to pay back a loan
Credit Investigation
Inquiry from existing credit records
Credit file verification
Inquiry against compilation of names of persons against whom collection cases have been filed by creditors
Court case verification
It is always conducted on borrower’s ________
personal name and known aliases and trade/ business name
The details and documents provided by the customers like ID Proof, address proof etc. have to be personally visited and verified to prevent fraudulent activities
Field Verification
Inspection of applicants residence address/ locality and verification with the nearest neighbors and store owners in the vicinity
Residence/ Neighborhood Verification
Verify the applicant’s and spouse’s correct name including their______
middle name, aliases, ages and citizenship
Verify the respective _______ address
provincial
Determine ________ descriptions
house
Determine if client owns a _____ and other _________
vehicle, household appliance
Determine the client’s general _______ and type of _____
living condition, neighborhood
Determine the number of ______, _____ and ______
children, age, school
Determine the ________ bracket of the applicant and the _______
bracket, spouse
Verification of information related to the applicant and related interest business
Business Verification
Confirm/ verify the ______ of ________ business
nature, subject’s
Check the business __________ including the ________ when it was ________
history, date, organized
Inquire from the ________ of the building if the client is holding business therein and _____ of the client
administrator, paying habits
Compare _____ information from the ____ of the business
financial, accountant
check the business ________
premises
Check if the _____ has branches/______
business, affiliates
gathering of additional or confirmation of information related to the applicant’s jobs
Employment Verification
Determine client’s employment _______
status
Determine _____ of stay with _____ employer
length, current
Confirm p_____
position
