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How can I find out who is reporting my company as a slow pay?

Question: How can I find out who is reporting my company as a slow pay?

Answer: Dun & Bradstreet does not release the names of its data sources without their prior authorization. We can ask the source to release the name during a recheck process; however, most sources do not provide such authorization. While consumer credit agencies are required to disclose the names of sources specific to the payment experiences by the Fair Credit Reporting Act, Dun & Bradstreet only reports commercial credit information, and the Fair Credit Reporting Act does not apply to commercial credit reporting.

How can I challenge a payment experience in my report?

Payment experiences reflect how bills are paid in relation to the terms granted. In some instances, payment beyond terms can be the result of disputes over merchandise, skipped invoices, etc. Each line item displayed in your report is a unique payment experience. Dun & Bradstreet reports the payment experiences exactly as they are received from the Trade Reference providing the information.

When a payment experience is challenged, Dun & Bradstreet will go back to the Trade Reference to verify the challenged payment experience. During the recheck process, Dun & Bradstreet will verify that the payment experience accurately reflects its records. The Trade Reference has the option at the time of verification to keep the payment experience the same, or update or remove it. Any change provided will replace the payment experience previously reported.

To initiate a recheck, use the following link: https://www.companyupdate.com. A maximum of five payment experiences can be disputed at a time.

What will happen to my PAYDEX Score when a payment experience is successfully challenged?

Once a payment experience has been successfully challenged, it will be removed from your business credit report and your PAYDEX Score will be recalculated. Be aware that Dun & Bradstreet requires a minimum of three payment experiences to be able to calculate a PAYDEX Score, so if the successful dispute has left you with fewer than three payment experiences, Dun & Bradstreet will no longer be able to calculate your PAYDEX Score.

Additionally, because the PAYDEX Score is dollar weighted, those payment experiences with a higher dollar amount will have a greater impact on the score than payment experiences with a lower dollar amount. This means that occasionally, removing a negative payment experience from your credit report can have a negative impact on your PAYDEX Score if the dollar amount of the payment experience removed was high relative to your remaining payment experiences.

For more information regarding trades https://www.dnb.com/content/dam/english/business-trends/DNB_Trade_References_Infographic.pdf

 

 

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