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A credit bureau is a data collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, a credit information company (CIC) in India, a Special Accessing Entity in the Philippines, and also to private lenders. [1]
With the strategy of business internationalization as instructed by the Chinese central government, the Chinese rating agencies began establishing international branches in Hong Kong since 2012. As of 2020, the major Chinese international credit rating agencies are Lianhe Rating Global, China Chengxin (Asia Pacific) and Pengyuan International ...
Credit management teams at lending organisations review and analyze the business credit reports before extending credit to customers. In the United States the first step for a business owner who wants to establish a business credit report is to get an Employer Identification Number (EIN) from the United States IRS. This allows them to apply for ...
Credit reporting agencies collect their data from a variety of lenders and use a credit scoring model to determine consumer credit scores. The most widely used credit scoring models are FICO and ...
Collection agencies supply the credit reporting agencies with information on commercial collection claims they receive which are matched to the trade payment experiences. Public record information such as, bankruptcy filings, legal suits, lease registrations and judgments are also gathered and added to the files on a particular business.
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