Bankruptcy Check
Recognize a candidate's financial situation
By requesting Bankruptcy checks on all applicants who will have direct access to a company’s or client’s finances or who will be able to authorise payments using our automated online bankruptcy related checks, you can reduce the risk of fraud and guarantee compliance.
What is Bankruptcy Check?
A bankruptcy check examines a candidate’s credit history and financial stability. This investigation reveals details on the candidate’s financial sustainability, such as if they have ever been declared bankrupt or insolvent or dealt with significant credit problems. This check might therefore give you information on how this person handles (or mismanages) the finances, which can help you make decisions.
An individual who has been legally determined to be unable to pay their debts to creditors is said to be in bankruptcy.
When to Conduct Directorship Check?
We suggest conducting Bankruptcy Check during following situation:
- When selecting candidates for positions like financial, accounting, management, and executive level positions where they will be given access to your company’s finances and/or assets. When hiring for these positions, it is necessary to take a more comprehensive approach to the applicant and learn about their financial history. You can determine whether these candidates would be a good fit for a position requiring some level of authority over the company’s finances by learning more about their financial backgrounds. Unbiased information about a candidate’s financial integrity and trustworthiness can be found in our Bankruptcy Check reports.
Why to Conduct Bankruptcy Check?
There are many benefits to conducting Bankruptcy Checks as part of a screening process:
- Reduce the danger to your firm’s finances and employees by getting a thorough understanding of the potential applicant.
- By completing due diligence on all prospective candidates and business partners, you may guard yourself from dishonest and dubious candidates.
- The financial stability of your business is crucial, therefore you must have complete confidence in the staff members who are in charge of its money.
Who should conduct Bankruptcy Check?
We think that as part of a thorough hiring procedure, every company should perform Bankruptcy checks. Verify the financial condition of your candidates to ensure the security of your company.
When should you conduct Bankruptcy Check?
Verifying Bankruptcy records is something we strongly advise doing when interviewing new applicants. This indicates that you have complete faith in their identification and that only the right individuals move on to become employees.
Would you like to find out more about how we identify risk?
You can connect with us through email.