Taking action against a credit data service

Freight Broker

Freight Broker

Well-Known Member
Sep 12, 2009
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I have recently run into problems with a credit reporting agency that is reporting incorrect data...they continue to circulate their report to carriers without giving me the opportunity to correct the mistakes on the report. Anyone else ever have this problem? Most credit reports are accurate...however this one out of WA state is way off and has lost me business. What can one do? I have contacted the agency in question and they now refuse to return my calls.. I will contact my lawyer next week...but before I do..are there any other options?
 
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I would get the credit reports about your business from Equifax, and D & B and see if the data match. If they differ significantly from the report out of WA, then send them copies via courier with your request for correction and/or their response. Also, you might try checking out the local laws regarding credit reporting agencies in their jurisdiction for more ideas.
 
That's a good idea...I've sent them reports from other companies, and they are all very good. I'm flabbergasted that some of these lazy factors will only use ONE report in making their decision on whether to grant credit...one would think that they might be a little bit more diligent...after all..if the reports can be wrong...relying on only one can paint a false positive picture as well. Ah well...you can do your best but sometimes your best efforts are neutralized by the incompetence and lack of care of others...maybe one just has to accept that.
 
One of my peeves regarding credit reports is that no agengies differentiate the paying habits of companies between material (hard) goods suppliers and service providers. Material goods suppliers will usually get paid within terms and service providers get short shrift.
 
I find that credit reporting in general is very inexact. I have always measured my time to pay..I note the invoice date...the mailing date of the invoice...the date I mailed in payment, and the date my paid amount is withdrawn from my account. I always pay my own bills on the day I receive them...with payment in the mail the very next business day..However some factors and carriers will not mail their invoices in a timely manner...and that ends up hurting me. For example...I had a carrier send me an invoice with an invoice date of November 30...they put it in the mail on December. 10...(that's ten days right there)...I got it today...(7 days)..I will mail payment on Monday...(that's 3 days)..and the mail takes 7 days to the carrier ((7 days)...and the carrier doesn't deposit payment for 3 days.. for a total of 30 days to pay on my report! Add to that, most factors and carriers don't even keep track of days to pay...most do not so long as they get their pay in 30 days. So if you're a good broker and shoot payments out right away, most of the time it isn't noticed.
 
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