Performing a
Sigma Enquiry
To perform a
Sigma Enquiry, follow these steps:
- Navigate to Client
Administration.
- Select Search for Existing
Client.
- Choose the
relevant client.
- Click the Compuscan Enquiry
button.
Selecting
Services for Enquiry
Only mark services as "Yes" if Experian has
activated them for your branch.
- Credit Data: Select
Yes if applicable.
- CPA & NLR Data: Select
Yes if applicable.
- CompuScore: Select
Yes if applicable.
- Address Mandatory: This must
be set to Yes.
- Do Affordability: Select
Yes if applicable.
- Run Compuscan Codix: Select
Yes if applicable.
Client
Consent
Client Consent:
YES - You must obtain the client's consent before
performing the enquiry.
Understanding
the Credit Report
The credit report helps credit providers assess
a borrower's existing credit commitments and their ability to take on additional
credit. This process is known as an affordability
assessment.
When reviewing
the credit report, pay close attention to the following sections:
- Current accounts and
balances, credit limits,
and repayment amounts.
- Information regarding
non-payment, delinquencies,
judgments, bankruptcy, written-off debt, and late payments.
- Definite Match and
Possible Matches.
- The Credit Score.
- Any Warning(s).
- Details on Debt
Restructuring.
- Adverse Information.
- Debt Collections.
- Notices.
- Defaults.
- Affordability Assessment:
- Consider
the amount of existing loan repayments listed on the credit report when
preparing a budget.
- Thoroughly
review all information on the credit report before granting a new
loan.