Know your clients before you lend
Credit Reporting Services - Bermuda Credit Association (BCA)
Online Access Fee $2.00.
This is the cost associated with entering our web domain; it applies every time one of your authorized staff members logs in to access any consumer or debtor data.
Online Credit Rating Only $18.00
This is the cost related to actually performing a credit check; the details provided are as follows;
A. A, B or C rating. “A” represents that the consumer has good credit with no debts to report.
B. “B” represents that the person was a debtor and has paid their debts in full.
C. “C” represents that the debtor still has outstanding and reportable debts.
Online Debt History Report $20.00.
This report displays the status of any debts outstanding or paid. When this report is ordered and there are no reportable or outstanding debts the report would return only the consumer information i.e. name, address and date of birth etc.
Online Detailed Credit Report $30.00
This report will return all of the previous information from the Online Debt History Report and in addition would offer more detail. The details that you can expect to see would reflect the time the person first applied for credit and all the companies they have attempted to receive credit from afterwards. This is helpful detail as it can reflect when a consumer is obtaining too much unmanageable credit; these are titled “Inquiries”. Other details such as whether a debt is sued and when it was sued and what phase of court proceedings have been reached. The phases of Court proceedings are as follows;
A. Ordinary Summons, this is the first phase when a debtor is summoned to Court to answer for his or her indebtedness. The Magistrate asks if they “deny or accept the debt”, an affirmative answer leads to a Court order for payment and a default for prison time. When there is a dispute a trial is ordered.
B. Judgment Summons, this summons when served is usually required when a debtor doesn’t show for the Ordinary Summons but we are awarded an affirmative Judgment against the debtor. We follow up with the Judgment Summons. When the debtor shows at court for this phase the Magistrate will ask again if the debt is denied or accepted and if it is accepted or not as in the case of the ordinary summons the debtor will either be ordered to pay with a default for prison time or will demand and be given a trial date to present reasons why they should not be made to pay the debt.
C. The balance of the court phases addresses incarceration for unpaid court ordered debt.
There is always more going on than meets the eye.
Credit Report Information/New To File $25.00
This report is generated for you when you call us and ask us to search our database for your consumer/customer to report back to you our findings. It is sometimes the case that no file exists to satisfy your inquiry. When this happens the charge applies for the search and creation of a new consumer file that will then be entered into our database.
Credit Rating- In House Telephone Report $35.00.
The procedure for this report is the same as for the Credit Report Information but will be charged extra for reflecting whatever details are in the file.
Credit Report-Written/Fax/Reference $50.00
This report reflects all that is contained in the previous report mentioned but adds the details laid out in the Full Online Credit Report as well, i.e. first and last credit check, debts outstanding and paid and whether debts reached the Courts.