What is it?
The Employment Credit Report provides insight on applicant’s credit history, including the following:
- Identifying information
- Any public records
- Outstanding debt
- Payment history
- Loans and mortgages
- Late payments
- Credit inquiries
How does it work?
The reports are provided through TransUnion, and are considered soft inquiries to the applicant's credit. It does not include a FICO score. Depending on the jurisdiction of the applicant additional forms may be required.
Who needs this search?
Organizations where employees will be handling money, or sensitive/confidential information. It can also be used to take an extra step in verifying applicants identity and understanding more about applicants characteristics.
Why run this search?
Running an Employment Credit Report can indicate whether an applicant will be a good fit for your organization. Having late payments could indicate a person is irresponsible or unorganized; having excessive debt could be a marker for financial stress which could increase the likelihood of theft, etc.
The information and opinions expressed are for educational purposes only and are based
on current practice, industry related knowledge and business expertise. The information
provided shall not be construed as legal advice, express or implied.
If you have any further questions, or need a product enabled on your account,
please contact Verified First Client Services for assistance.
Call 844-709-2708 or email firstname.lastname@example.org