Whether you’re the head of a well-established corporation or the founder of a promising new venture, money problems might make it difficult to get paid by your vendors.
If you need help recovering money from a business that has defaulted on its payments, reporting the company to credit bureaus is a good first step as well as concentrating on your Business Credit Management.
Micro, small, and medium-sized businesses (MSMEs) and businessmen can benefit from CreditQ’s business credit monitoring services and Best Debt Collection Agency, which includes payment dispute resolution and the identification of company defaulters.
This is done so that MSME companies can form business alliances with less difficulty.
Debtors Are in Default; How to Collect?
Credit reporting agencies like CreditQ do more than just report on companies that haven’t paid their bills; they also facilitate payments to creditors and vendors.
As a go-between, the firm discusses repayment terms between the customer and the bank as part of credit risk management solutions.
It also helps in identifying commercial defaulters across the entire country of India, information that can be utilized by businesses to punish those who have defaulted on their payments the next time they do business with them.
Business Credit Management Always act ethically as a businessperson and avoid forming partnerships with other companies until you have obtained as much information as possible regarding the target organization.
Utilizing the CreditQ service will allow you to acquire further information regarding the current and past financial state of your supplier and to settle any debt through our Debt Settlement Process.
CreditQ Facilitates Effortless Payment Settlement
CreditQ as the Best Debt Collection Agency is used by many SMEs and businesses (GSTN holders) to track down and publicly shame commercial credit defaulters.
When you report a company as a defaulter on the Debt Settlement Platform in India, the CreditQ expert will verify the details you provided to ensure they are complete and accurate.
Business defaulters are required to be reported alongside a ledger of business defaulters and a certificate from a Chartered Accountant describing the amount owed.
Both of these documents are required to include the UDIN number for straightforward verification purposes.
Following the presentation of the necessary documentation, the team will carry out an investigation while the specialists check the data.
Afterwards, the defaulter’s list on the CreditQ, as one of the best Debt Settlement Platform in India portal, will be updated with the new information as part of CreditQ’s Debt Settlement Process.
Before classifying it as such, we conduct an analysis of the defaulter for your company using the criteria established by the industry.
To take advantage of this service, all you need to do is join up for the membership program at CreditQ, which will only set you back a few bucks every year.
As a result, you can utilize the site to report those who have defaulted on their credit and receive help with recovering payments from your creditors as credit risk management solutions.