Companies can save significant amounts of money with a credit check

The term credit check itself is a commercial term, which simply means the creditworthiness of economic actors. By credit check, we can understand the examination of creditworthiness or solvency. The credit check of individuals can most often be carried out when taking out a loan, while the study of countries can primarily provide guidance for investors.

“There are several procedures for credit checks, which have a common goal. Namely, analyzing the solvency of the party being examined. This can be useful when taking out a loan before disbursing money, but also in cases where, for example, we want to sign a contract with a new partner in business. From the investigation, we can obtain data that can demonstrate that our future client will indeed be able to settle their payment obligations on time”

– said Zalán Doór, private investigator, managing director of X-Rock Private Investigation Office.

A corporate credit check helps to avoid companies and enterprises struggling with financial risks, liquidity problems, and bankruptcy

The credit check criteria can be diverse not only when analyzing individuals, but also when analyzing enterprises. In this case, experts take several things into account in order to make a precise evaluation. These can include the ratio of income and expenses, examining the debt stock, analyzing liquidity indicators, reviewing cash flow, accounting for financial reserves, reviewing credit history, and investigating the structure of assets and liabilities. Moreover, a credit check conducted by a private investigator can bring more complex results. It can go beyond the investigations carried out by accountants, as in this case not only the accounting is examined, but also the reality behind the numbers can be revealed. There are parts of a due diligence that only a specialized private investigator can see, but it can still be crucial whether the company suffers damage or not.