Report Business
Credit Defaulter

The process of reporting a defaulter is very easy and completely free for all the CreditQ registered members. By reporting a defaulter, MSMEs and businesses not only help themselves, as the settlement option is available on CreditQ portal but also make sure that others do not fall in the trap of habitual credit defaulter. The reported defaulter will be exposed all over India as the Credit Information Report and Credit Defaulters list will be available to all the members across India.

Businesses or MSMEs who have a valid GST registration number and registered as member on CreditQ, can report a credit defaulter. Then, it is 100% checked and verified by CreditQ’s specialist, so that members can be rest assured that the defaulter list and information on CreditQ portal is verified and genuine. The process of reporting a defaulter is very easy and absolutely FREE for all the registered members. The registered members need to fill in all the required fields on the portal, under the Report Defaulter section and its done.

Vital information required to report some business as credit defaulter includes submission of the ledger of the defaulter party, a certificate of due amount by the chartered accountant (CA) with UDIN number and other required information. CreditQ team analyses all the submissions and once it is checked by the experts, the information is updated on the defaulters list, on the CreditQ portal.

CreditQ takes special care that genuine businesses are not listed as defaulter accidently. CreditQ follows standard procedure and makes sure that the name of the defaulter is checked and verified before it is reported to the list of the defaulters on the CreditQ portal. Every reasonable precaution is taken to make sure that defaulters list is foolproof and remains always updated.

CreditQ lists defaulters identified and added by the registered members. However, if the concerned parties, the registered member and the defaulter agrees and settles the payment then the registered member could remove defaulter’s name from the list of defaulters on CreditQ.

The payment settlement is strictly between the defaulter and the registered member and CreditQ does not in any way have any say in it. It is the sole discretion and will of the registered member to ask for the removal of the defaulter name from the list.