Report Business Credit Defaulter
Report Business Credit Defaulters, Payment Defaulters List, Commercial Credit Defaulters
Business Credit Defaulters – Expose on National Platform
Credit Kollect provides a centralized national platform designed for comprehensive commercial credit risk mitigation.
Strategic Value for Members:
The procedure for reporting a credit defaulter is streamlined and complimentary for all registered Credit Kollect members. This decisive action provides a dual benefit:
- Facilitated Resolution: Reporting incentivizes the defaulter to seek immediate settlement, utilizing the dedicated resolution options available through the Credit Kollect portal.
- Market Safeguard: It contributes vital intelligence to the ecosystem, effectively protecting the broader business community from engaging with habitual or high-risk credit defaulters .
Data Dissemination and Informed Decisions
Upon verification, the defaulter's status is professionally documented and integrated into the National Credit Defaulters List . The comprehensive Credit Information Report is subsequently disseminated and made accessible to the entire national membership, empowering businesses across India to make informed, risk-calibrated lending and transactional decisions
Credit Management
This section outlines who is eligible to report a commercial credit defaulter and the simple procedure required.
Eligibility to Report
Reporting capabilities are exclusively available to entities that meet the following two essential criteria:
- Valid Business Status: The entity must possess a valid Goods and Services Tax (GST) registration number in India.
- Membership: The entity must be registered as an official member on the Credit Kollect platform.
Verification and Assurance:
To maintain the integrity of our national database, every submission is subject to stringent quality control:
- 100% Verification: All reported data is 100% checked and verified by Credit Kollect’s specialist team.
- Data Integrity: This rigorous process ensures that members can be completely assured that the defaulter list and all credit information on the Credit Kollect portal are verified and genuine.
Reporting Procedure:
The process for reporting a defaulter is streamlined and complimentary for all eligible registered members:
- Access: Navigate to the "Report Defaulter" section on the Credit Kollect member portal.
- Submission: Fill in all required fields accurately with the relevant details concerning the defaulted credit obligation.
- Completion: Submit the form; the process is then initiated for verification.
Required Documentation for Defaulter Reporting:
To ensure the accuracy and legal veracity of the National Credit Defaulters List, the reporting process necessitates the submission of specific, verified documentation.
Essential Information Required:
Defaulter Ledger
Submission of the complete and up-to-date ledger statement detailing the transactional history with the defaulting party.
Supporting documents
Please upload mandatory supporting documentation for your entity and the defaulter :
- GST Registration and PAN.
- Aadhar details.
- Primary Bank Account details.
- Other relevant business establishment documents.
Secure upload is available through your Member Dashboard .
Chartered Accountant (CA) Certificate
A Certificate of Due Amount confirming the outstanding liability, issued and certified by a Chartered Accountant (CA). This certificate must include the valid Unique Document Identification Number (UDIN) for verification.
Supplemental Information
Any other required supporting documentation, as specified on the portal, necessary to validate the credit default claim.
Verification Process
The Credit Kollect team manages a stringent verification protocol. Our experts rigorously analyse and cross-check all submitted documentation . Once the information is fully checked and certified as accurate, it is promptly integrated and updated on the Credit Defaulters List within the Credit Kollect member portal.
IV. Credit Kollect’s rigorous verification process and the protocols governing the addition and removal of entities from the National Defaulters List.
Verification and Quality Assurance
Credit Kollect implements a Standard Verification Protocol to ensure that genuine businesses are never erroneously listed as defaulters. Every reasonable precaution is undertaken, and the defaulting entity's identity is checked and verified by specialists before the information is formally integrated into the Defaulters List on the Credit Kollect portal. This meticulous approach guarantees that the list remains robust, accurate, and consistently updated.
Data Source and Removal Policy
1. Source of Data: Credit Kollect lists are comprised exclusively of defaulters identified and formally added by our registered members.
2. Payment Settlement: The resolution of the outstanding debt is a confidential matter conducted strictly between the registered member and the defaulting party . Credit Kollect is not involved in, nor does it express an opinion on, the terms of settlement.
3. Removal Discretion: The removal of a defaulter’s name from the list is at the sole discretion of the registered member who originally submitted the report, following a verified payment settlement or resolution agreement. The member must initiate the removal request via the portal.