Credit Report - Fraud Prevention Tool
A Credit Report is a valuable fraud prevention tool for the following reasons:
- Helps identify the Prospective Tenant. i.e. verifies name, date of birth.
- Validates the SSN that also identifies the Applicant.
- In most instances it lists current and previous addresses.
- Tells you if there has been a bankruptcy, lien, collection or civil judgment.
- No credit history=a red flag; Click Here for the reasons why!
- Fico Score: The Credit Bureaus provide a risk assessment based on previous credit history.
The score recommended for the Residential Rental Industry is 600, a score above 600 is usually indicative
of a good credit history. A score below 600 generally indicates that there is a credit risk associated to
this Consumer; the credit history in this instance (below 600) would likely show payment problems.
The higher the score the better. This is a guide that most financial institutions use.
- A TVS CDR helps to determine:
- The credit worthiness of your Prospective Tenant.
- The truthfulness of your Prospective Tenant by comparing the information from the rental application to information on TVS CDR. Does information match?
The TVS Credit Decision Report is a compilation of information from Experian and Lexis Nexis,
the information contained in this report lists all previous addresses which the full credit
report does not. The TVS CDR gives you a recommendation which the full Credit Report does not,
if you want the bottom line, i.e. good credit history, bad credit history, then the TVS CDR is the way to go.
There is no site inspection required for this report.
The Credit report saves you time, money and guess work. It is a fraud prevention tool that also reduces risk of income loss.
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