The Collection Advisor

Introducing Credit Reporting to 3 Specialized Regional Credit Bureaus

Posted by Brian Summerfelt on Jun 21, 2016 10:29:20 AM

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For many years, MetCredit has provided credit reporting to the three national Canadian agencies: TransunionEquifax, and Dun & Bradstreet.

Credit bureau reporting is an important privilege for a collection agency – although not all invest the money and effort required. Those of us who do gain the ability to quickly and directly impact the credit rating of debtors who fail to honour their commitments – and to update that report when the credit grantor is paid in full. The “Big 3” are highly effective at what they do, but tend to focus mainly on credit scoring and do not offer in-depth coverage and specialized reporting needed by major industries, especially during volatile times.

That’s why I’m pleased to announce that MetCredit is now directly connected with the 3 regional credit reporting agencies: LumbermensCredifax Atlantic and Sterling Credit

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Sterling Credit Group is an Alberta-based specialist in western Canada’s oil and gas and construction industries. Sterling is unique in that it provides monthly group meetings at which clients have exclusive access to up-to-the-minute information, alerts and strategy sessions about industry risks and impacts. Sterling also provides updates on liens, bankruptcies, collection activity, legal actions and live commercial credit reports.

Lumbermens provides credit trends and real-time reporting in central Canada and throughout North America, with specialized experience in the construction industry, including construction liens. Established in 1915, Lumbermans is based in Mississauga and is the only source of lien data at the point of registration in Ontario, making it the region’s earliest and most direct source of data reporting.

Credifax Atlantic Limited is a specialist in Atlantic Canada, where it is renowned for its deep expertise in the construction industry as well as the region’s largest foodseller and advertising suppliers. Credifax provides Early Warning Reports and weekly bulletins to help credit grantors in Eastern Canada to stay abreast of changes in credit worthiness. 

What does this mean to MetCredit clients?
First, these new capabilities immediately increase the debtor impact of our credit reporting. When we collect on your behalf and submit a credit report to a regional credit bureau, any potential lender or supplier conducting a credit check on your debtor will be more certain to see that a collection agency has filed a report against it. 

Furthermore, the specialized reporting such as real-time credit bulletins and early warning alerts triggered by our filings can give MetCredit incomparable leverage and industry insights. We’ll be better informed when collecting from a specific debtor moves from normal to urgent in nature.

In short, MetCredit is better positioned than ever to collect quickly for our clients. We’re now without question the best-staffed, best-equipped AND best-connected collection agency Canada-wide. 

And that’s the kind of thing that keeps me pumped about the work we do. 

If you have any questions about how MetCredit’s supercharged credit reporting capabilities can benefit your business, or need to see some action right away, please reach out to me directly, or talk to a helpful debt collection specialist at 1-888-797-7727.

If you're not quite ready to bring in the experts yet, use the link below to download my 10 free Debt Collection Pro Tips! 

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Topics: Debt Collection

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