Business Credit Report Source - Posted by raelynn mitchell
Posted by raelynn mitchell on January 23, 1999 at 09:41:26:
The other source, besides D & B, is Experian Business Services (I think that’s the name), which is the business report side of Experian (formerly TRW). Dun and Bradstreet is the most popular, however.
A funny thing, though. I once worked at a big six accounting firm that didn’t pay on invoices, only on statements. I don’t get their logic. But the cute thing about this accounting firm was that their average pay cycle was closer to two months. I got the feeling that the bigger they thought they were (or the employee submitting the bill for payment thought the company was) the longer they felt they could wait for payment.
Research your state law thoroughly. Although not totally related, I’ve seen instances where if someone is one day late on a car payment the “carry your own note” lot would repossess the car. Point I’m getting at here is, perhaps it is possible to take legal action (read small claims court) at a 30 day or a 60 day interval. And if it gets that far, once you get awarded a judgement, dial 800-333-0505 (Dun and Bradstreet) and report them. All they require is a fax on company letterhead to add items to that company’s file for non-payment. They also have a collection service, where THEY’LL send the company a letter demanding payment. Ask them about this.
Perhaps another way to handle the issue is to put the statement “All payment histories will be reported to all major credit reporting agencies, including Dun & Bradstreet and Experian” on the invoice somewhere. It may or may not wake them up, but follow up on that statement.
By the way, you can report good payment histories to those credit agencies as well, by simply faxing a letter to them on company letterhead describing the company’s pay history.