THEY ARE MEMBERS OF THE CREDIT REPORTING AGENCIES. THEY PAY TO REPORT YOU AS A YOU CONTINUE TO MAKE PAYMENTS. CREDIT CARD COMPANIES, CAR LOANS, JEWELRY, CLOTHING CREDIT CARDS ALL REPORT TO THE MAJOR CREDIT REPORTING AGENCIES. THIS IS A WAY TO TRACK YOU AND HELP TO ACKNOWLEDGE IF YOU ARE A GOOD CREDIT RISK TO ANY AND ALL OF THE ABOVE.
If I were a small biz... I would go to Google and search for Experian, Trans-Union, and whatever that other credit reporting agency is, or just search for credit reporting agencies, go to their websites and look for info on how to report.
Small businesses should report bad payment history to a business credit reporting agency. A few of the key business credit reporting agencies are Dun & Bradstreet, Experian and Equifax.
It would depend on whether or not this business account was showing on your personal report.It is customary for business loans/credit accounts to need a personal guarantor. Personally guaranteed accounts may show on your credit report. To dispute information on your D&B report visit www.dandb.com/companyupdate
You have not stated where your business is.Different States, Provinces and Countries have different rules.In General:You must be able to prove the debt as valid, if you report and can't prove the debt you will be in legal trouble.Call the credit reporting agency, they will help you with how to report.If you need to figure out who to call ask your bank. They will have the #.
The three credit report agencies are important because they provide report on your credit and if you encounter fraud, they are the agency that you should report to in order to prevent further damage on your credit card.
To report a debt to a credit agency, you can contact the agency directly and provide them with the necessary information about the debt, such as the amount owed and the creditor's details. The agency will then update your credit report with this information.
If I were a small biz... I would go to Google and search for Experian, Trans-Union, and whatever that other credit reporting agency is, or just search for credit reporting agencies, go to their websites and look for info on how to report.
No
Small businesses should report bad payment history to a business credit reporting agency. A few of the key business credit reporting agencies are Dun & Bradstreet, Experian and Equifax.
No, a collection agency cannot remove debt from your credit report. Only the credit bureaus or the original creditor can remove the debt from your credit report.
No, D&B does not report on individuals. It is a leader in Business Credit. Visit dandb.com to learn more.
It would depend on whether or not this business account was showing on your personal report.It is customary for business loans/credit accounts to need a personal guarantor. Personally guaranteed accounts may show on your credit report. To dispute information on your D&B report visit www.dandb.com/companyupdate
You have not stated where your business is.Different States, Provinces and Countries have different rules.In General:You must be able to prove the debt as valid, if you report and can't prove the debt you will be in legal trouble.Call the credit reporting agency, they will help you with how to report.If you need to figure out who to call ask your bank. They will have the #.
Is your business one that already reports to the bureaus? If so, then report the customer as owing the balance. If not, you have three choices: Either report the debt, (there is a charge for signing up as a reporting member to the bureaus and for reporting a debt), or you can sell the debt to a collection agency (for 40-60% of the amount owed), or you can take your customer to court in a civil or small claims action. If you win the case, there will probably be a judgment issued against your customer. Be sure to have the judgment recorded in public records. It will get picked up there by the credit bureaus and placed on the customer's credit report.
If a credit reporting agency has mistakenly marked you as deceased on your credit report, you should contact them immediately to correct the error.
Unless you have given a collection agency written permission to pull a full credit report they are in violation of credit laws.
A collection agency can report you to the credit bureau for any amount of money. There are agencies that will report for amounts under a hundred dollars.