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 (for example, internal accounts, employee accounts, special pricing circumstance), but in general, you must report on all customers.
I only want to report on my past dues!
Many businesses wonder why they must report on all customers. The commercial credit bureaus are building strong, consistent, and fair credit reports on all businesses. If firms reported only on their past due or hand-selected accounts, the goal could not be accomplished. Prompt-paying firms might have no credit report at all. 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 may not like the contribution of delinquent credit experience, but it should encourage them to pay.
What if I don’t have any I.T. support?
While having technical support can certainly help, most systems include tools that allow the average user to export aging data. NACM is available to help determine if your system can export aging information.
Can I report international accounts?
International accounts may be included; however, some credit bureaus do not accept international accounts and will disregard them.
Can I report consumer accounts?
We are unable to accept consumer accounts. 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.
Can I skip reporting on the F.O.B.’s?
You may exclude a few accounts for specific reasons, including F.O.B (friend of boss). We will handle this for you.
How do I transmit my file to NACM?
We can accept data files via email, FTP, and through our website. We prefer website upload as it allows greater security.
How much does contributing cost?
Contribution is a complimentary service.
Will anyone know I am contributing?
Contributors have the right to remain anonymous. We will not release your company’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.
How do I get started?
Download our Data Contribution Consent Form. This form gives us permission to receive and share your company’s data.