Before taking on new clients, a good idea would be to do credit bureau checks on these individuals, and the same formula would apply if you are employing someone new; simply process a quick credit bureau check. The same procedure would apply should you rent out property, so that you do not end up with a tenant, employee or client who turns out to be a non-payer or not 100% honest.
Too many people open up accounts with shops that are simply not in a position to pay every month once the goods have been bought. It is obviously the full responsibility for a consumer to pay all accounts, but it is also up to the shop or business to turn away an application, should the credit bureau checks not quite add up.
Do quick credit bureau checks on all prospective clients by applying for credit online; you would be able to glean this information from at least three different credit bureaus for comparisons.
You will easily be able to get this information which is accurate; there are, however certain criteria that you and your company will have to disclose. One of the most important points to consider is that you have to be a registered enterprise to obtain this information. You will have to supply the credit bureaus with the potential borrower, purchaser or client’s green bar-coded South African identity document as well as all relevant personal information, and most importantly of all, the individual applying has a right to know that you are performing a credit check on them. A form by the client to this effect usually has to be signed by them allowing you to obtain this vital and personal information.
Credit bureaus will ensure that you are provided with correct information and a range of products and services that will help you with your credit bureau checks. Contact us for more on this vital service and obtain the information you require.
