A simple credit check is now part of our admissions process.
This is a standard and mandatory procedure meant to protect both the applicant and our company in case of a breach of the training contract's terms and conditions that has financial consequences.
For example, Academy graduates have to pay for the tuition fee themselves if they have not found a job within the job search period for reasons that are imputable to them: not attending coaching sessions with a Codaisseur career trainer, not implementing the advice received into their job-search approach, not applying to jobs or going to interviews etc.
As the tuition fee is a significant amount of money, we want to make sure that in case the above happens, we are not putting huge financial pressure on someone who has a difficult financial situation to begin with.
Can I refuse to undergo a credit check?
If an applicant does not want us to perform a credit check on them (we always inform beforehand), then unfortunately, we cannot accept them into our Academy.
How does the credit check go?
The credit check we perform does not include a registration in the BKR (Bureau Krediet Registratie) and thus has no influence on someone's ability or eligibility to take out a loan/mortgage or the amount of money they can borrow for said loan/mortgage.
For the credit check, we only use the following personal information:
- Applicant's name.
- Applicant's address in the Netherlands (street name and number, postcode).
- Applicant's date of birth.
What we get is a general risk assessment based on a semaphore system:
Green means no/low risk of undue financial pressure and thus the chances of non-payment (of the tuition fee, in the cases outlined above) are also low.
Orange means there is a risk of undue financial pressure and thus non-payment is more likely.
Red means there is a high risk of undue financial pressure and thus non-payment is highly likely.
Here you can see an example of what the full credit report we get back looks like.