Simply put, the credit bureaus are your best resource for rewarding consumers who consistently pay you on time, and collecting from those who fall delinquent. In fact, by just reporting to the credit bureaus you will likely see a drop in the amount of delinquent payments because consumers do not want a negative mark on their credit report.
The four credit bureaus have exposure on a national, and sometimes international level. When a consumer moves from one state to the next their credit report will follow. If they are delinquent with you, and you report, their data will show up the next time they apply for any sort of credit (i.e. Credit Card, Car Loan, Rental Application, Etc.). And your data stays on the consumer credit file for 7 years from the date they first fell delinquent. You simply cannot get that kind of exposure on your own.
At DatalinxLLC.com, we’re committed to helping small business owners with their credit reporting needs – so visit our site today:
and let us help you report your consumer credit data to the credit bureaus.