How To Credit Check Non Limited Companies, Sole Traders and Partnerships

It has always been a risky business supplying Proprietorship or Partnerships on credit terms, with very little information available online due to the fact that this business entity does not have any filing regulations.

The first advice I would give is to have a full application form specific to this type of business, which would ask for pertinent information such as all owners full names, dates of births, residential addresses along with the standard questions relating to the business. 

So many businesses do not have the correct internal procedures in place to correctly credit check let alone collect any outstanding monies from sole proprietors or partnerships and often find that the information they originally gathered is either incorrect or out of date and has changed.

Did you know that Proprietor and Partnership business owners are jointly and severally liable for any debt so therefore you can recover any debt with one or all of the Partners within the business.

Creditserve are the only UK company who can provide Bespoke Credit Reports which give up to date business and consumer information on any non limited business in the UK and Rep of Ireland. These reports include business details such as trading address, activity information, date of establishment, other trading addresses & tenure, other business interests, business CCJ information, full ownership names and dates of births, electoral roll confirmation, CCJ and Bankruptcy searches, trade references and recommendation.

We are the only credit reference agency in the UK with the ability to provide these reports and also provide them to many of the largest blue chip organisations along with the main credit insurance agencies.

These bespoke credit reports are beneficial to all forms of company especially those whose main customer base is sole traders and partnerships as well as new limited companies. Companies in wholesale and distribution, manufacturing, transport, export and import, insurance brokers are just a few industry types. 

If you would like to know more about these reports please feel free to contact us direct on 01992 414222 or email sales@creditserve.co.uk or if you would rather please visit http://www.creditserve.co.uk/Products-and-Services/Bespoke-Sole-Trader-Reports to view samples.

We can offer these reports on a pay as you go basis or in bulk at reduced prices depending on the requirement. 

Creditserve Credit Checking Facility/Credit Management Offer For Online Business Information

MARCH MADNESS!!!

For One Month Only Creditserve Are Able To Offer Our UK & IRISH Unlimited Credit Checking Database For A Guaranteed Reduction In Annual Subscription of 50%! Yes, 50%!!!

Creditserve will give you unlimited access to business information which includes the following:-

ü Unlimited access to online credit reports on alllimited companies in both the UK and Ireland.

ü Unlimited access to individual directors reportson every director in both UK and Ireland.

ü Unlimited access to companies house imagedocuments.

ü Unlimited access to sole traders andpartnerships in UK.

ü  Unlimitedaccess to online monitoring of any UK & Irish limited companies.

However, this is not all... As well as access to our unlimited credit checking facilities you will also have access to our debt recovery department to assist you in recovering any outstanding monies on delinquent debtors on a 'no collection no commission basis'. 

ü Debt recovery on a ‘no collection no commissionbasis’

We can also give you access to business information in 18 Countries throughout Europe and inluding the USA. These reports are usually charged at £30 + VAT per report, however with this offer we can give you access to 10 online overseas reports for £200 + VAT... Please see below the countries you can obtain instant online information in:-

Belgium, Czech Rep, Denmark,Finland, France, Germany, Greece, Iceland, Italy, Lithuania, Malta,Netherlands, Norway, Poland, Slovakia, Spain, Sweden, Switzerland andUSA.  

Creditserve also provides access to consumer credit checking information, however you would require the correct data protection licence to obtain this type of information. Please see below the degree of information available within our consumer reports:-

CONFIRMATION OF NAME & ADDRESS,ELECTORAL ROLL CONFIRMATION, INSOLVENCY SEARCH, COUNTY COURT JUDGMENT SEARCH,ADDRESS LINKS, GEO-DEMOGRAPHIC PROFILE, CONSUMER SEARCH HISTORY, CREDIT SCORE.

If you would like any further information or would like to trial the system please do not hesitate in contacting me on 01992 414222 or email martin@creditserve.co.uk on LinkedIn Martin Brown or on Twitter @creditserve
 






 

Consumer Credit Reports

This blog is to give you an insight into why to carry out consumer credit reports, what you can receive and how these reports benefit your company when carrying them out.

A recent study has show that 2013 has seen a marked increase in company credit checking and this is almost certainly down to the recent company failures of some of what we call the 'blue chip' companies like HMV and Comet.

However, with the new found awareness of company credit reporting there is still often a problem in obtaining good quality information for sole proprietorship and partnership businesses.

As long as you have the relevant permission and data protection licence you are able to carry out consumer credit reports on the individuals operating the businesses. The benefit of these types reports is that you can obtain current information on the owners which will assist in not only setting credit limits but also ensure that you have information so if there is a problem with payment, you have a confirmed residential address to assist in recovering your outstanding monies.

Our consumer credit reports confirm information such as:-

ü CONFIRMATION OF NAME& ADDRESS.

ü ELECTORAL ROLLCONFIRMATION.

ü INSOLVENCY SEARCH.

ü COUNTY COURT JUDGMENT &BANKRUPTCY SEARCH.

ü ADDRESS LINKS.

ü GEO-DEMOGRAPHICPROFILE.

ü CONSUMER SEARCHHISTORY.

ü CREDIT SCORE.

The main companies/industries that use this form of information are food & drink wholesalers and distributors, plumbing & building merchants, agricultural merchants and insurance brokers for their due diligence purposes. However this service is becoming widely used is assistance to credit checking the directors or shareholders of Limited Companies.

I am pleased to confirm that creditserve offer cost effective packages for all of your credit checking requirements, so please do not hesitate in contacting us direct sales@creditserve.co.uk, on twitter @creditserve or LinkedIn Martin Brown. 

Credit Checking Non Limited Companies (Sole Proprietorships and/or Partnerships) and the Best Way to Ensure You Know Who You Deal With!

When dealing with Non Limited entities such as sole proprietorships or partnerships it can sometimes be tricky to know the information you require, how to obtain it and to be confident in setting a realistic credit limit or even whether you should give a limit at all.

With Non Limited entities the owner(s) are jointly and severally responsible for outstanding monies and in the case of outstanding debts any or all of the owners can be chased for the value plus costs and interest.

The starting point of credit checking your Non Limited customers and ensuring you know who you are dealing with is to have a full application form which require details such as company details, ownership details, residential address(es), bank details and trade references. It is also wise to make a note on the application form that consumer credit reports will be carried out with any application.

The next suggestion for credit checking your Non Limited customers would be to take up given trade references to ascertain details like how long your subject has dealt with the given reference, what credit terms they have (7 days, 14 days, 30 days etc), average purchases, credit limit and comments of the account.

In my opinion the best way of being confident of knowing exactly who you are dealing and whether they are credit worthy is to combine the two steps above with using both business information available online which will give you details on the business in question and also consumer credit reports which will give details on the business owner(s) behind the business. You can easily obtain information of electoral roll, CCJ and derogatory information, credit search history, demographic profile, address links and credit score via an online credit reference agency.

If you may need any further information or if you have any questions please do not hesitate to contact me via twitter @creditserve, on LinkedIn at Martin Brown or Email martin@creditserve.co.uk