FAQs - Click to see answer
What information should be included in a data contribution file?
We need some basic information on your customers, like their name and address, along with their balance info. View a complete list of required items.
How often do I have to report?
Data should be contributed on a monthly basis.
Do I have to report on all customers?
Yes. You may exclude a handful of customers for special reasons (internal accounts, employee accounts, special pricing circumstance, etc.), but in general, you must report on all customers.
I only want to report on my past dues!
Many people wonder why they must report on all customers. The reason is that the commercial credit bureaus are working to build strong, consistent, and fair credit reports on all businesses. If firms reported only on their past due accounts or hand-selected which accounts they reported on, the goal could not be accomplished. Prompt-paying firms would likely have no credit report at all! While it might be more satisfying to report on your past dues, reporting on all customers is in the credit community’s best interest.
Will my customers be mad?
Your good customers should not be mad…you are building their positive credit history. Your delinquent customers just might get mad…but, it also might get them to pay you. We like getting paid.
What if I don’t have any I.T. support?
While having technical support can certainly help, most systems these days have the tools built in to allow the average user to export aging data. NACM can also help – we are available to visit with you over the phone or in person to help determine if your system can export aging information.
Can I report international accounts?
Yes. International accounts may be included; however, some of the credit bureaus we work with do not accept international accounts so they will disregard your foreign accounts.
Can I report consumer accounts?
No. We do not accept consumer accounts. If you have consumer accounts, we can work with you to find a way to exclude them. A sole proprietor doing business under their name is fine to report on.
What about my biggest customer? They are always late!
You may exclude a few accounts for specific reasons. If your biggest customer is always late and you want to exclude them, we will handle this for you. Just let us know who they are.
Can I skip reporting on the F.O.B.’s?
You may exclude a few accounts for specific reasons. If you have a couple of accounts which should not be reported due to the famous F.O.B (friend of boss), you may exclude them. We will handle this for you. Just let us know who they are.
How do I transmit my file to NACM?
We can accept data files via email, FTP, and through our website. The website upload is our preferred method as it allows you greater security than email or FTP. Please see here for more details.
What’s in this for me?
There are many benefits to contributing – including a discounted price on credit reports and industry group fees. View a complete list of benefits here.
What credit bureaus can I share with?
We offer data sharing with more than 20 NACM’s across the country and the commercial credit bureaus of Experian and Equifax. You choose the credit bureaus you want to share with and we handle the rest. The service is free of charge, regardless of how many sources you opt to share with. The benefit to sharing with multiple bureaus is you reach a larger audience of credit report users. We encourage you to maximize the benefits of the service by opting to share with all bureaus.
How much does contributing cost?
Contribution is a free service.
Will anyone know I am contributing?
Contributors have the right to remain anonymous. We will not release your firm’s name without your permission. Your tradelines will show on credit reports with either your industry code or your NACM member number, depending on the database, not with your company name. NOTE: If you are in an industry group, your group members will be able to tell which tradelines belong to your firm by connecting your member number to your firm via the group roster.
Do I have to sign anything?
Yes. Download our Data Contribution Consent Form. This form gives us permission to receive and share your firm’s data. At the bottom of the form, you indicate which credit bureaus you want to share data with by initialing off on them.