Asset Based Loan

Business Credit – Why are trade lines not identified by company?

On personal credit reports,  trade lines are identified by the company reporting the information on the account holder.  As an example, the trade account may say “Sears” and Sears will report what their records show about your repayment history to them.

Imagine if an account were listed and showing slow or derogatory repayment history about you, but the company’s name is not listed. Hard to imagine?   That is precisely what occurs today with very well know business reporting agencies and how they report on businesses.

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One of the purposes of the business credit report is for other businesses, or the business itself, to review the trade and repayment history.    However, if a business reviews it’s own business credit file, reviews the trade section and identifies delinquent or derogatory repayment information, they do not know who the company is that is reporting on them.

For privacy purposes, company names of business credit reporting agencies will not be listed here.

It is even the case when the business credit reporting agency is called and a customer service representative is spoken with,  the representative will indicate they do not know, are unable to tell you, and unable to find out who the company is that is reporting credit on you, in spite the fact that the business credit reporting agency is receiving credit information from them, about your business.

It seems very clear that they do know who the companies are, even if the number of people that have access to that information is small.    Since the business credit reporting agency is receiving information, they will have to know who the company is reporting information concerning your company.

If this issue is encountered by a company reviewing their own business credit from a business credit agency,  it is recommended that a supervisor at the business credit agency is asked for and to make every effort not to relent, until this information is provided. Anything less could be considered a disservice to the business seeking information on their credit.

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