Running a credit check

Yvaines09 | 13:13 Thu 19th Mar 2009 | Business & Finance

2 Answers

Is it possible to run a credit check on a business?

My dad runs his own business and sometimes comes across clients who can't (or won't) pay? Is it possible to run a check on a business before he spends out a fortune on advertising, recruiting, etc?

Overdraft Query

Basic bank account needed

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sandmaster

There are companies such as Dun & Bradstreet who will do this for you - at a cost.
For limited companies you can search companies house for the last balance sheet - costs �1.

Man in Black

His bank can make a Bank-to-Bank. "status enquiry" - just ask his bank to ask clients bank for confirmation that the (prospective) customer is good for way of business for �XXX. His bank may charge for this nowadays but this will probably save the hassle involved in chasing a bad debt. You will need to know the clients bank account details - if they are reluctant to give these, beware.

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