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Is there a credit reporting agency that will accept credit reports from a small business w/o charging a fee?*
I own a small business where there are numerous debtors who run up bills and then refuse to pay. Are there any credit reporting agencies which will accept credit reports from me without charging me any kind of fees? I cannot afford to pay a membership fee. I am already losing money and only a small percentage of debtors will pay to resolve a bad credit report. Many just don't care if they have a bad credit rating. Thanks.
Answers:
1) you can sell this debt to a collection agency if you want and they will hound them until they get the money
2) You have to pay but you also get a discount/credit for information that you supply to the credit bureau about your customers. I was thinking about this once but the terms and conditions seemed pretty sleazy to me so I never followed thru. Also, if you have signed contracts or even invoices, a collection agency will try to collect and if they succeed, they'll give you a decent percentage of what they collect. If I remember correctly there's some kind of base fee or minimum volume requirement for this which makes it uneconomical at extremely low volumes. But I definitely recommend the collection agency based on personal experience. It works for me. It's really nice to get something back after you've given up hope. Good luck.
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