A commercial credit file contains information on commercial accounts that become overdue and reportable to a Credit Reporting Bureau (“CRB”)
The 2 most commonly used CRB’s in Australia are Equifax (formerly Veda) and Illion (formerly Dunn & Bradstreet)
A commercial default can be placed on your individual consumer credit file and or your business or company file. This can occur if you are a sole trader, or a director of a company and you have provided a director’s guarantee to a credit provider. Or for any commercial credit account you may have applied for.
This can affect you obtaining finance either in your personal name or your business or company name.
Commercial defaults can only be removed if there was a genuine dispute in relation to the account at the time of the default listing.
With commercial accounts, the account only needs to be overdue and payable and may be listed without the same notice period as a consumer account.
Speak to one of our credit mediation experts and you can be assured of transparent and honest advice as to how to improve your credit file.
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