What Does Credit Investigation Mean?
A credit investigation is a procedure undertaken by a financial institution to vet a potential client's ability to pay back a loan. Failure to pass this procedure means disapproval of a loan.
Credit Investigation
Advertisement
Insuranceopedia Explains Credit Investigation
When a person applies for a loan from a bank or any other financial institution, they are asked to disclose details about their financial history. This can include their income, salary, and credit history. These details will be verified through a credit investigation, which might include verifying the applicant's income with their employer.
Related Question
Does my credit rating have any effect on my auto insurance premiums?Advertisement
Share this Term
Related Terms
Related Reading
- A Look at Credit Insurance
- How Your Credit Score Affects Your Insurance Rates
- Why You Might Want to Insure Your Loan: An Intro to Credit Insurance
- Buying Versus Leasing a Car: Which Is Better?
- From the Experts: Top Tips for Saving Money on Your Insurance
- CLUE Yourself In: How Your Claims History Informs Your Insurance Future
