How A Business Can Report Credit To Equifax
Nowadays, payment delinquencies are rampant so if you are a business owner and you are having these issues with your clients, then it will be in your best interest to learn how a business can report credit to Equifax, which is one of the three major credit bureaus in the United States. There are two types of credit that you can report to Equifax: good credit and bad credit. Good credit simply means that existing and past debts are being resolved or paid, while bad credit implies that loans and debts are being ignored and have become totally delinquent due to the dereliction of the debtor or borrower's duty to pay back their debts and loans. To start reporting these issues to Equifax, you will require the following tools or agencies:
- Accounting Department
- Collection Agency
- Most businesses have an accounting department which handles the ins and outs of the firm's financial structure, including outstanding debts and records of excellent clients who pay on time and never get behind on their bills. You may task your accounting director or financial officer to determine these paying and non-paying customers. Once they are identified, your accounting personnel can do the dirty work and call in those problems and report them to Equifax.
- It is also safe to use a collection agency on your behalf. A collection agency will do everything in its power to collect the outstanding debts of your non-paying customer, because they get paid for that and they are used to calling people to remind them of their delinquencies. This option will free up your accounting department of extra duties and your personnel can focus more on their mission—to monitor and manage your financial operations.
- Equifax can be easily reached through their website at www.equifax.com if you want to report any outstanding credit issues with your clients. Or if you are a consumer, you have an option to request a free annual credit report, sponsored by Equifax, to take care of financial liabilities and get back on track to financial freedom.
Every minute counts when you are dealing with finances so take the proper step now to resolve those delinquent debts. Go online and reach out to Equifax for your overall protection and thorough financial resolution.