Decoding Your Experian Company Credit Report
Written by Janet Gershen-Siegel
Experian is among the larger credit reporting agencies. Because they report on both business and private credit, a great deal of this article applies to taking care of your personal credit too. Let's look into a sample Experian business credit report.
Report sections
Identifying information
The report breaks down into segments. The first, as might be predicted, features basic identifying data such as company name and address, but additionally any ownership information. This sector also specifies major personnel and the type of business, how much time it has been operating, amount of employees, and the amount of yearly sales.
Payment information at a glance
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This data is broken down by supplier category, with payment trends at the bottom.
Inquiries
Next are inquiries into your business's credit. These are recapped by kind of institution doing the inquiring ( for instance, a financial institution) by the month when they asked.
Collection filings
If your small business has any collection filings, the listing is here by date, debt collector name, status, amounts disputed and collected, and the closed date, if appropriate.
Collections summary
Just underneath the collection filings category, the summary is fairly clear.
Commercial banking, insurance, leasing
This portion shows whatever Experian knows about your company and its connections (if any) with these kinds of organizations. The facts include what any credit was provided for, how much credit was extended, when the loan started, and the remaining balance if appropriate.
Judgment filings
Next the report displays general legal information such as the court where a judgment was filed, the date, and how much it was for.
Tax lien