Beware the new credit reporting rules

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Running Time: 9:32

Date: 01/04/2014

Late payers beware - it's oh-so-easy now to get a black mark against your name!

The new credit reporting rules should ring big alarm bells for all serial late payers. Because it's now much easier for lenders to see payment histories. If your history doesn't look good, there's every likelihood that a request for a loan or credit facility, just when you need it most, will to get a thumping thumbs down. But it's not all bad news, says Dun & Bradstreet's Steve Brown. Steve explains what you need to know about the new rules, and how to manage the new credit rating regime so you or your clients don't end up with a 5-year black mark.