Legal Events refer to several types of official proceedings to which a business is a party. These can indicate various levels of risk or deterioration for a business.

Creditsafe collects and publishes information about these legal events:

  • Lawsuits (“Suits”)  -  Low-Moderate Risk
  • Liens  -  Moderate-High Risk
  • Legal Judgments (“Judgments”)  -  Moderate-High Risk
  • Bankruptcies (“Insolvencies”)  -  Severe Risk
  • Uniform Commercial Code Filings (“UCC”) -  Very Low-Low Risk

Creditsafe sources legal events from the thousands of courts or offices across the United States where they are officially recorded. The data may be gathered by Creditsafe directly, or we may enlist trusted third-party data aggregators to collect the data.

Creditsafe uses legal filings as signals of various types of risk that may apply to a business. They are one of many data types that inform Creditsafe's credit scoring and limit recommendation algorithm.