Commercial Credit Ratingtrade creditworthiness
Ever since, the credit has come through, it has now been paid back through the purchase of the old residential home and the customer is currently constructing his new home right next to his existing home.
Credit assessment of companies
If your credit reports are not as good as you want them to be, what can you do? Paying the full amount within 28 workingdays from the date of the complaint will void the judgment and should not appear on your credit reference. CCJ appears on your message, but is flagged as "satisfied".
When an amount goes unsettled, the CCJ will appear in your six-year account. CCJ's have a strong influence on your credit rating as it makes you look as if you are not able to repay debt. That means in order to keep a sound credit record, you should ensure that you submit documentation on a regular basis and before the end of the term and keep any changes to the company up to date.
This should be treated with the same diligence as your corporate finance. When it looks like you are using corporate funds to clean up your financial situation, a creditor will not grant you credit. Every credit request you make will be noted on your account. Applying and being routinely refused can affect your creditworthiness.
It is not only a good way of doing business and maintaining good relations with your supplier, but timely payment also contributes to building good credit ratings. This can all increase your cash flow and keep your credit reports sane.