IncSmart New York  (Small Business and Startups) - When customers owe you money and are past due, or refuse to pay the services they have received, you may want to report them to credit bureaus. The three major credit bureaus: Equifax, Experian and Trans Union maintain credit file reports on most American consumers. By including bad debts owed to you or your company, you may have some additional leverage in convincing the customer to pay.

When notifying the credit bureaus, there are certain steps be taken. 1. Use a Collection Agency. Collection agencies charge a fee or percentage of the debt to be collected, and almost all collection agencies are members of the three credit reporting bureaus. The debt will be listed as a collection account on the customer’s personal credit report. The appearance of the negative account on a person’s credit report may convince the customer to pay. 2. Use a Credit Reporting Service Company. These companies can help you establish accounts with the credit bureaus. Most national credit bureaus require that information to be submitted in certain forms, and these service companies can help you in with the forms. They can also list debts from customers on your behalf, similar to a collection agency. 3. Joining a Credit Bureau. You must meet the minimum requirements. In order to apply for membership, contact the credit bureau and request a membership application. Credit Bureaus don't allow members that only report a few debts
By David Oliver  

Starting a Business in New York

For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form New York Corporations and New York Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention.  Small business is the heart of IncSmart. 

We are very excited about helping you form your new company.  Each state is so different when it comes to filing documents, you will know right away you are in the right place. 

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