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Defaulting on a Business Vendor Account (SupplyWorks)

Valued Member

Defaulting on a Business Vendor Account (SupplyWorks)

So I placed an order with SupplyWorks and well it looks like I am gonna be a week or two late on the payment and I was wondering how to handle this. It's with my business which is an S-Corp and this credit account is not linked to my personal credit so any late payments will show up on my business credit report. My only concern is they will send the account to collections before I have a chance to pay down the balance. It's about 230 dollars. I just would like some advice on how to handle this.

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Established Contributor

Re: Defaulting on a Business Vendor Account (SupplyWorks)

Always contact the supplier and let them know what's going on. Most will work with you if it's not a chronic thing but they won't know you need help until you say something.

Starting 11/14 EQ 498 EX 514 TU 507 | Current 4/10 EQ 651 EX 697 TU 692 | Util 11% | Personal Credit - $97,540 | Business Credit - $71,100
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