Credit Review by BI

When a BI reviews a persons credit history, do they actually go into the accounts and review transactions (i.e. what you are spending your money on)? Or are they just looking at the amount of debt, credit worthiness, etc…

They can’t view anything that is not on your credit report. They would need your permission to look at your spending on your credit card or bank statements. I have never heard of and can’t imagine that this would happen.

They only look for things that might stand out such as a foreclosure, late payments, bankruptcy, etc.

Add income to debt ratio, charge offs and liens . . . Anything that shows up on a credit report is fair game.

How do they determine income for the income:debt ratio? Income is not on a credit report and I’ve never been asked to provide income or pay stubs. And I don’t think the BI or Adjudicator is given salary/wage information for the job being sought in connection with the investigation.

Misspoke . . . Sort of . . . They look at credit limit to debt . . . Just like FICO.

Some agencies required the household income to debt ratio reported - NBIB does not do those interviews. The income information is self-reported though you may be asked for supporting documents such has pay stubs and tax records. One agency i used to contract for required us to collect your salary records while collecting your employment information.