MYTH – In order for a collection agency to be properly set up to report debtors to credit reporting agencies, the collection agencies are obligated to report “all” of the debtors to the credit reporting agency and are not allowed to pick and choose which debtor gets reported.
In addition, the commercial credit reports are used in a much different way than consumer credit reports and the impact that is achieved by reporting commercial debtors to the credit reporting agencies is significantly less than the impact it has on consumers being reported.