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Credit Reports

I have a client who has a potential new customer and I am wanting to know what is the best Company Credit Report website to check it out beforehand.

Thanks,

Stewart

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09th May 2012 10:51

Don't bother

In my opinion, credit reports are less than worthless for your average Ltd Co. There simply is not enough information available to the reference agencies to make any sort of sensible decision but rather than admit that, they make they make some daft guesses & assumptions.

Watch what happens if you try to credit check a company incorporated three months ago for instance.  

 

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11th May 2012 20:27

I would bother
I used to work in an accounts dept before going freelance and they used credit checks on all new customer/suppliers. The service that they used was from Experian, but there are others around who offer either bespoke one off reports or an annual service. I would go for whatever service gives you what you need at a price you can afford.

I would definitely recommend checking out potential clients as much as you can - Companies House (for limited companies), credit check, VAT registration (if applicable), Google Alerts for web based news items etc. Even then, you may just have to make a value judgement based on gut instinct but it is hard if it is a new company as Roland195 says. Postings on another thread on this site about letters of engagement suggest that if your potential client is averse to signing one of those that that may be the best pointer to their credit worthiness.

Good luck.

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