Do not trust the information provided by this company. There are no checks and balances in place and it would appear anyone can lodge a default without having to prove a thing. This company is damaging the credit rating and reputation of worthy businesses and should be investigated. That in it's self is a mind field even trying to ascertain who regulates this company.

I am a hypocrite! I continue to use CreditorWatch despite having lots of problems believing their data. I have had huge problems with the interface with Xero. CreditorWatch shows details in accounts which are not mine. Several attempts have been made to correct this but we are now at a standstill with getting this corrected. CreditorWatch has had a ticket in their system for months to correct this and nothing has happened to get it sorted. I concur that CreditorWatch seems to favour certain customers and remove defaults without knowing the full story (or for that matter caring about the true story). In recent discussions with staff members of CreditorWatch they have conceded that they don't really know how their algorithms for setting credit ratings work and that this is outsourced and they don't have the right to check data or make changes. CreditorWatch is a data collector who don't have any control over how the data is collected and can have a major detrimental affect on your business.

I don’t trust the credit reports provided by CreditorWatch. Twice, CreditorWatch has allowed a default to be registered on my client's report. The defaults are both factually incorrect and should be removed. However, no matter how thorough our communications and detailed evidence in support of this, they refuse to remove it because "the supplier said it correct". In other words, they are ignoring documetary evidence and harming my client's credit rating. In contrast, I have another client that listed a default which was true & correct, but when the customer called CreditorWatch, the default was removed, based on the customer’s word alone. This particular default was taken to the Magistrate’s Court, where the matter was satisfactorily settled. CreditorWatch should NOT have removed this default. By removing this default, other businesses were not made aware and may have been exposed to subsequent loss based on the potential inability to pay as well. What I’m trying to say here is that CreditorWatch does not have an appropriate process for examining defaults to accuracy. They should not be trusted as a credit reporting agency. They are acting as the judge, jury and executioner, with no checks and balances or fairness. If anyone else has had this experience, please comment as I am considering taking this further.