If you’ve a growing business or running an established venture, you may have experienced problems in handling debts or you may foresee a struggle in getting your money back from the vendors. Whatever the case, business defaulters need to be listed on credit reporting platforms so that you can seek help in getting your money back.
CreditQ offers business credit monitoring services that help MSMEs and businessmen in the payment settlement and report their business defaulters on the platform. It does so to facilitate MSMEs trade better when it comes to making partnerships with other businesses.
How to settle money from my credit defaulters?
The services offered by credit reporting bureaus, such as CreditQ are not only limited to listing your business defaulters, but the team also helps you settle your money stuck with the lenders and suppliers. The company acts as an interface that communicates with clients in negotiating repayment terms. It further helps in exposing business defaulters on a PAN India basis so that companies can take stern measures in dealing with the defaulters the next time.
As a businessman, it’s important to stick to your business ethics and join hands with other businesses after running a thorough check on their report. Here, you can utilize the CreditQ platform to check your vendor’s business credit report and analyze their financial standing in the market. It will save you from the risk of suspected fraud.
For MSMEs, it becomes easy working with a trusted firm that knows the job well. It helps you negotiate repayment terms, discusses the insolvency aspect of the business, and suggests measures to save your business from suspicious fraud.
How CreditQ helps you in payment settlement?
CreditQ largely works with MSMEs and businessmen (GSTN holders) to expose their commercial credit defaulters. Once you report a business defaulter on the platform, it is checked and verified by the CreditQ specialist so that you can be assured of a genuine defaulter list and that the information on the portal is verified and updated.
To report your business defaulters, you are required to submit the ledger of the defaulters, along with a certificate bearing the due amount by the Chartered Accountant with UDIN number so that it can be verified easily. Once you submit the essential documents, the team analyzes the documents as it is checked by the specialists and then the information gets updated on the CreditQ portal under the defaulter’s list category. We follow standard practices to ensure your business defaulter is checked before categorizing it as a defaulter.
This service is provided to the CreditQ members and is included under the membership program, for which you can register with a nominal fee. So, if you want to report any credit defaulters, you can use the platform and seek help in the settlement of your money from the debtors.