FAQs
QHow do I sign up to Creditlook?
ASimply fill in the online registration form. If in doubt then give us a call on 01628 81050
QHow often is information updated?
AInformation is updated and added to Creditlook on a daily basis.
QWhat Operating System does Creditlook require?
Aif you’ve got an internet connection, you can access and use Creditlook.
QDoes Creditlook comply with the Data Protection Act and The Competition Act?
AYes
QDoes Creditlook provide insurance?
ANo. Creditlook seeks to limit your exposure to bad debt but does not insure you against it.
QWill Creditlook eliminate my bad debt?
ANo. Creditlook will help you make a more informed opinion about any customers you are considering trading with or with whom you are already trading.
QDoes Creditlook provide a credit history on my customers?
ANo. Creditlook provides a history of customers who have traded outside of agreed payment terms in the past 12 months.
QI am interested in Creditlook but my trade association does not offer the Creditlook service, what should I do?
AWe are always looking for new trade associations to work with, so please call us on 01628 581050 to get things started.
QHow do I know that the information contained within Creditlook is accurate?
AOur Creditlook members are bound by our terms and conditions which require them not to make false statements and only enter information they believe to be true.
QThere is a debt recorded against my company on Creditlook, I don’t think it’s right, what can I do?
ACreditlook maintains a record of every report entered on the system allowing us to know when each record was updated and by which member. Creditlook has a legal obligation to divulge this information should any issue arise.
QWhat information can be entered?
AInformation on a company who have breached their payment terms can be entered onto the system using a simple drop down list of options. There are no free text options allowing for confusion on the status of a debt.
QWhat happens when a debt has been cleared?
AThe member can update a record to say that the debt has been resolved, however a record of the initial debt will show on the system for 12 months.
QHow does Creditlook ensure that records are regularly updated?
AIf a member has reported a company, once the debt is a week old everytime they log in they will be prompted to update the record before being allowed to proceed further. Even if there is no change to an outstanding debt, we will report the increasing length of time the debt has been outstanding. You can see all past entries, made by members, in date order.
QI’ve forgotten my password. How do I get a new one?
AEnter your registered email on the login page and click the "Password reminder" link to receive a password reset email.
QDoes Creditlook prevent me trading with any of my customers?
ANo. Creditlook simply provides you with more information to make an informed decision.
QHow is creditlook better than a traditional credit circle?
AThe principle is very similar, creditlook creates a forum that allows members to share information aout customers who are late pauers. But being online it allowes it member to share this information 24hours a day rather than meeting once a month/quarter as traditional credit circles do.
QHow does Creditlook differ from a credit reference agency?
ACreditlook simply offers a forum to allow its members to share information about late payers to help them make a more informed decision as to whether to extend credit and if so on what terms. Creditlook does not offer an opinion about the credit worthiness of a company nor does it rate or categorise companies that have been reported. We would recommend that our members use Creditlook and credit reports in conjunction with each other to obtain as much information as possible before offering credit.
QCan I access data on Creditlook outside of normal working hours?
AYes. Creditlook can be accessed online 365 days a year, 24 hours a day.
QWhat should I set my payment terms as?
ACreditlook does not specify payment terms, these are agreed with our members and their customers. Creditlook only shows customers who have breached these agreed terms whatever they may be. We are aware that your terms may differ based on trading history and relationship with your customer.
QWhy doesn’t Creditlook report the value of the debt?
AWe feel that the value of debt is potentially commercially sensitive and could remove the anonymity of the reporter. We also think that reporting a customer has breached the terms is more important than the actual value outstanding.
+44 (0)1628 581050
