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Credit information bureaus, such as CreditQ have paved the way for many credit agencies that aim at helping businesses recover bad debts. It works through a channelized payment settlement process and acts as a middleman between you and the payment defaulter.
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You Can Make an Informed Decision Let's begin by knowing MSME advantages of associating with a credit bureau. MSMEs work largely with vendors and suppliers. They are expected to maintain a cordial relationship with them.
Recover Your Money As discussed in the previous point, you can make a wise decision about shaking hands with a new client by referring to their business credit report. In addition to it, you can report your payment defaulters on credit reporting platforms like CreditQ and seek help in the payment settlement process.
Stay Away From Fraud If you think one of your clients is playing smart and you’ve observed a pattern of delayed payments or ignored courtesy calls for, say, 3 to 6 months, it’s time to take action.
Improve Your Business Credibility The services offered by credit bureaus are not limited to checking your client’s Business Credit Information Report. You can also improve your financial standing in the market by knowing your grey areas.
Thank You Address: 3/31, Chitrakoot Marg, Arpit Nagar, Vaishali Nagar, Jaipur, Rajasthan 302021 Mob: +91 724-000-0901 Email: support@creditq.in Website: https://creditq.in
