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Credit report inaccurately stating we pay 20 days late on average

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5 years 3 months ago #1893 by pdw
Hi There,

I've run several Experian Credit reports on my company over the last year and over the last 6 months it's started to inaccurately state that we pay on average anywhere between 5, and currently 20, days late. It says the industry average if 45, but regardless, I'm unhappy about this. It particularly annoys me given that we pay far better than any of our clients do us, yet their reports state they pay on time, which is completely false.

I can't seem to find accurate information anywhere about how to find out who would be making these reports and how to rectify it.

Please can someone shed some light on this?

Many thanks!

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5 years 2 weeks ago #1903 by james@cpa.co.uk
Dear PDW,

The Experian credit report payment data is not based on your entire payment history but will be based on one or more of your suppliers who provide payment data to Experian.

This will be a confidential arrangement between your supplier and Experian but it will be very large companies not smaller suppliers.
The best thing to do is examine your own ledger to see who are the possible candidates.

James

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4 years 11 months ago #1932 by BBS
If you paid on time, or even early, you probably would not have needed to ask your question.

To rectify a late payment history allegation will be appeased by paying your current suppliers on time (or early), and that consideration will be filtered back to the credit rating companies, though it will take a number of years.

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