Making bankruptcy attorney process easier through credit checker

Credit reports on individuals filing for bankruptcy are critical for attorneys to acquire, especially if the client has problems recalling his debts. If an accurate list of debts is to be created, obtaining your credit reports from each of the three credit bureaus may be the only option. But first, let us understand what a credit report is!

What is a credit report, and what does it contain?
A credit report summarizes how you’ve managed credit accounts in the past, including different account types and financial history and other details that your lenders and creditors submit to credit agencies. Creditors and lenders use credit reports to determine if and on what terms they will offer credit to you. The following categories of information can be found in your credit report:

• Bankruptcies
• Information related to inquiry
• Personal information identification
• Credit account data
• Collection accounts

How can a credit report assist bankruptcy attorneys?

A credit report contains all of a consumer’s credit information, such as the type of borrowing, the date of the loan, the available balance, credit history, any recorded defaults, etc. Certain attorneys already have a system in place for obtaining credit reports. In some situations, the attorney may ask the client to obtain their reports. In either case, the credit reports include a summary of the consumer’s debts, including the account’s name, the date it was opened, the amount owed, the moment the debt was last recorded, and perhaps the account holder’s address and phone number. Collections, and other public record information such as judgments, are also mentioned in credit reports. All of the foregoing information aids the attorney in determining whether to extend credit to a particular consumer and on what terms.

How does Credit Checker provide a streamlined experience for bankruptcy attorneys?

Credit Checker streamlines the credit report process by generating credit reports from any Salesforce standard or custom object. Cloud Maven, Inc. offers products along with consulting and advisory services to assist you in reaching your tech goals. The company has won the 2021 Salesforce Partner Innovation and is a certified Salesforce ISV Partner. This application is a quick and easy-to-use tool that pulls real-time data from Experian™, Equifax®, TransUnion®, Work Number, and LexisNexis® to deliver instant credit reports for businesses to make efficient and accurate decisions. It also provides tri-merge credit records from all major bureaus to create a single, accurate credit report for lending institutions.

The Salesforce native solution delivers a more accurate and detailed picture of the customer’s risk profile. By providing data related to personal and employee identification, the attorneys can easily perform a check on consumer identity. Through credit account information like account types, account balances, credit limit, and payment history, they get to know the financial background of a potential consumer.

It includes LexisNexis® Liens and Judgments Data, Soft and Hard credit inquiries with or without SSN and SIN. It retrieves real-time credit reports and provides comprehensive credit data like FICO and vantage scores, OFAC, current and historical tradeline details, inquiries, MLA, Liens and Judgment, and public records. CreditAPI’s highly scalable integration provides users with instant access to standardized data from one to three national credit bureaus.

The tool configures data storage for rapid credit choices, generates fully customized reports based on company needs, and presents all credit report attributes, such as report number, party name, record kind, and credit score, in addition, to easily sorting out applicants on the basis of credit data through an intuitive dashboard. As no manual process is involved in gathering all information, human errors are eliminated, resulting in an automated workflow. It provides real-time data and saves time with zero errors at competitive pricing by saving 20% cost on credit reports.

With a free 30-day trial period, this instant credit report solution is available on Salesforce AppExchange. For further queries, you can contact us at info@cloudmaveninc.com and follow us on LinkedIn and Twitter for more updates related to our products.

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