what is the process for reporting a late payment from someone who owed you money to the credit bureaus? what forms do you have to fill out? does it cost anything?
Go grab their truck or something and hold it hostage... most of the slow and no pay folks are either chronic or getting ready to fold without telling anybody typically... I worked for a company that got bought by some horrible American company, next thing we knew payroll was cheating us and the subcontractors were not getting paid. The savvy ones, if our business was small to them, immediately put them on a COD basis!! It was funny, we were R&D and the wafer vendor was not delivering to us until we got somebody to cut us a check that we then hand-carried..... If you are a small business you should always be getting new customers and ranking the existing ones by how much trouble they are, etc. and raising your shop rates to the krappy ones until they go away and using their higher rates to pay for really great treatment to your good customers..... when the krappy ones complain, never tip your hand, just jack the rates some mroe, sometimes they really aren't getting competitive bids and they will pay some huge shop rates until they get it...... it's nothing illegal either, you bid, they accepted, end of story in court.....
If you are a small business you should always be getting new customers and ranking the existing ones by how much trouble they are, etc. and raising your shop rates to the krappy ones until they go away and using their higher rates to pay for really great treatment to your good customers ----------------------- lol to see it in print. So true and necessary. Weed the garden. Regarding the op question, I believe you have to be a subscriber to the reporting agencies.
ya cant unless you a subscriber which cost big buck. DnB maintains business credit file but if tortfeasor is not listed, aint no thing u can do
what % of small and medium size businesses are subscribers of the bureaus' services? anybody here been a subscriber?
I agree with all responses so far....there is not much you can do....short of hiring a "gumba squad".
Check with someone in the same business as you. Typically there are credit associations for each industry. The cost can vary based on how much you use the service. I haven't been a member for quite some time, but about 10 years ago a base subscription to a local agency would be around 3000 per year.