Researching a Company's Payment History or Bankruptcy Record?

Posted by: Rod Kurtz on February 13, 2007

There are three national credit reporting agencies that do credit checks on businesses from which you can learn about a company’s payment history or bankruptcy record: Equifax, Experian, and TransUnion.

You can also research a company’s payment history or bankruptcy through…

To read the full story on AllBusiness.com, click here.

AB

Reader Comments

slab99

February 14, 2007 10:26 AM

Small companies and contractors need more than this. You need to be proactive and protect yourself using business itself. If you depend on credit ratings such as D&B you might get burned. Clients can get into trouble and you will be the last to know it -- contractors always get ripped off on the LAST check. Credit references are cherry-picked and often not checked again for years after first establishing credit. For example, if the client starts to lie about other matters, watch out. They could keep telling you the money is coming, that they have paid well all along, etc. Then two weeks later they won't return your calls, you get a letter in the mail they are in bankruptcy, and a month after that their D&B slips. Too late. If you think something is wrong, press them with questions. Tie up other work and put yourself in a a better position. A lot of small businesses don't want to think a good client is going to rip them off, so they keep going and going, hoping for the best. Don't do it. Be nice, not stupid.

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