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01 July 2014

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UK CONSUMER SEARCHES

In the current climate more and more companies are carrying out consumer searches on sole traders, partnerships and in some cases individual Directors, in cases where they have provided guarantees. As a credit reference agency we encourage our customers to gather as much credit information on new customers prior to opening a new account.

 

Prior to carrying out any consumer search you are required by law to have the following:-

 

A current data protection licence, which has to include section 3 accounts and records

Written permission of the person or persons that you intend carrying out a consumer on. Normally this permission is obtained by the customer filling out and signing a credit application form, which should include a section confirming that credit searches will be carried out both on the business and personal address(es) of the proprietor or partners or owners of the non limited business.By signing the credit application the new customer is giving permission for the credit searches to be carried out.  

 

With sole traders and partners being personally liable for their business debt it is imperative that as part of the credit application there is a section that requests the residential address (es) for the proprietor or partners.

 

Once the address(es) have been received the consumer credit search can be carried out, this will confirm the following;-

 

Confirmation that the address is valid

Confirmation that the proprietor or partners reside at the address, by way of electoral roll confirmation.

Notification of any or county court

Address links

Credit score

Demographic search

Property price

Record of credit searches

 

Creditserve are able to provide consumer searches for more information please visit our shop or click on Consumer Credit Reports

If you require more information on how to obtain a data protection licence or if you would like information on credit application forms please call Chris York on 01992 414222 or email chris@creditserve.co.uk

 

Google Author: "By Chris York"

 

 

 

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Creditserve Business Information Ltd is registered by the Financial Conduct Authority under registration number 626460.
Authorisation can be checked on the consumer credit register at www.fca.org.uk