This occurs when the applicant’s credit report shows any record of bankruptcy, insolvency, or related proceedings.
Platform Action
Auto-escalation to human.Credit Operations – Next Steps
- Conduct a full review of the applicant’s credit history
- Assess:
- Whether the bankruptcy has been discharged
- Time elapsed since insolvency event
- Impact on applicant’s current financial position
- Apply lending policy to determine eligibility or exclusion
Example Situation
An applicant’s credit report shows a discharged bankruptcy from three years ago.The platform escalates the case. Credit ops confirms no ongoing insolvency, reviews current income stability, and proceeds based on lender policy for discharged bankrupts.