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Interesting idea, but...
...the trouble with any plucky crowdsourced start-up is that can take a lot of time before it achieves critical mass.
I typed in a couple of names from companies that have recently entered administration or liquidation and got back the response, "No outstanding debts found with PACT Scheme". While a correct statement of fact, I don't think it provides much help from a debt-management point of view - it just suggests that not enough businesses have joined the scheme yet to get any meaningful results.
There's another issue to consider too, as the likes of Experian and Dun & Bradstreet would no doubt point out. They invest huge sums to keep their databases accurate so they can substantiate their credit scores and ratings - from court records, in necessary.
Non-payment is a delicate area, and sometimes angry people can go over the top. I wonder whether the preventative measures on Defaulter.com are robust enough to protect against someone wanting to launch a malicious campaign against a business.
How willing would other AccountingWEB members be to encourage uptake of this new approach?
Are You Listening Department for Business Innovation and Skills?
Good luck to Mr. Hawthorn but we have had countless promises of action from successive governments that might at least mitigate the scandal of big companies improving their cash flow at the expense of that of their smaller suppliers. It's about time this government delivered on those promises.
Dangerous game perhaps?
I agree with the comments above but what if accusations are posted which are unsubstantiated or simply refer to actually disputed invoices? I can imagine certain creditors taking strong exception to this. I've written a piece on my blog https://cpcmcredit.wordpress.com/2016/02/04/pact-the-late-payment-databa...
Reasons
This is something I thought "somebody should create this" about many years ago.
Then I thought about the potential nightmare, legal and reputational, that could ensue from arguments about listings. Often there is a valid commercial (and legal) reason for late or non-payment and who is the final arbiter of the merits of such cases on a website?
Just look at the trouble Tripadvisor has with malicious and made-up "reviews".
Problem
Yes, because there is no way that big companies won't insert a contractual term forbidding such shaming.