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Dunn and Bradstreet Credit Rating Blackmail?

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I just got a call from someone representing Dunn and Bradstreet, regarding my small business. She told me I really needed to update the information on my company-- that I hadn't done it since 1991. She told me that the out of date information could be hurting my ability to maintain credit with suppliers and I assume that would also apply to lenders-- credit line holders, credit card companies, etc.

I assured her that I'd provided information about the company more recently than 18 years ago. She started lecturing me on the power of a DUNS report. Having a small, privately held business, I like the small amount of privacy I have. I don't feel the need to give D&B more free info they could use to make money off of. But I asked her what info she was looking for. Maybe there was some I'd be willing to disclose. 

Then she admitted it. There's a $449 charge for me to update my info. That's when I sort of lost it. She'd suggested that in these times, companies are tightening their credit, using D&B info to make decisions. I've never before been asked to pay to update my info. And if other companies are using the D&B info to determine whether or not they'll do business with my company, in these hard times, there's something wrong with this. 

She told me they had old or inaccurate information about my company that they were supplying to other companies. I wonder if they tell them the info is 18 years old. 

Credit reporting companies can ruin people and they can ruin companies. That's why congress introduced legislation requiring that people be allowed to see free copies of credit reports on their selves. 

If D&B can ruin a company with old information, it should not be allowed to charge what seems to me to amount to blackmail to make the information accurate and up to date. I used to get calls from people who would ASK me for information, even cajole me to provide the info, without charging me. 

In times of war, companies who make excessive profits by exploiting the war situation are called profiteers. It feels like D&B is acting like an econonomic crisis profiteer. 

Congress should do something about this Senator Chris Dodd, Congressman Barney Frank, as respective heads of their congressional senate and house finance committees should look into this. Small businesses have enough challenges without D&B leaning on them in what I consider to be a despicable way. 

Establishing a law that protects small businesses from this kind of predatory credit ranking should be met with bi-partisan approval. 

 

Rob Kall is editor-in-chief, publisher and site architect of OpEdNews.com, President of Futurehealth, Inc, and an inventor. He hosts the Rob Kall Bottom Up Radio Show, aired in the Metro Philly area on AM 1360, WNJC. Over 200 podcasts are archived for downloading here, or can be accessed from iTunes. Rob is also published regularly on the Huffingtonpost.com

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what about your world isn't blackmail?  I... by shadow dancer on Wednesday, Feb 4, 2009 at 1:45:18 PM
  This happened to me too, Rob, and it&r... by Richard Wise on Wednesday, Feb 4, 2009 at 3:39:38 PM
If they are broadcasting material that is wrong an... by Patrick on Wednesday, Feb 4, 2009 at 9:06:30 PM
https://eupdate.dnb.com/The person you spoke to at... by Ida Wainschel on Thursday, Feb 5, 2009 at 1:29:47 PM
I also received a letter from Dunn and Bradstreet ... by aj gallager on Tuesday, Feb 10, 2009 at 1:32:06 PM