Business Credit Repair
In today’s challenging economy, business owners should be diligent in protecting and, if necessary, repairing their business credit reports.
Unfortunately there’s not much helpful information regarding business credit repair and how you go about correcting errors, inaccuracies or obsolete information on your files with the three main business credit bureaus.
Just the other day one of my members was debating whether to purchase a shelf corporation or work on his existing entity which had two derogatory marks on its DNB file.
He felt it would be much easier to start over instead of working on repairing his existing file because he had no idea of how to go about correcting it.
I suggested he follow some simple steps to initiate an investigation and after one business day his file was updated and the negative marks were both deleted on his file.
This is why it’s so important to monitor your files because the only one who is policing them and ensuring that the data being reported is accurate is you!
There are currently no laws that protect business owners from unfair business credit reporting, like the Fair Credit Reporting Act does for consumers. Business credit repair starts with you and in order to help you I’ve put together several steps you will need to take to initiate an investigation with the business credit bureaus.
Dun & Bradstreet
DNB’s eUpdate enables you to view your business credit report and edit your information all online. If you uncover a derogatory mark that is inaccurate then you will need to contact D&B at 888-814-1435 to request an investigation. They are very fast to respond and I have found that once they complete an investigation the results are updated on your files quickly.
Equifax Small Business
If your business has a profile listed with Equifax Small Business you can get a copy by contacting them and supplying the member (business) name of a company that plans to pull your business credit report. Keep in mind that Business Equifax will provide you a copy of your report ONLY if you supply them with a member name.
Another option to obtain your report is if you have been declined credit based on a member pulling your report. You can contact Business Equifax at 1-800-727-8495
After reviewing your file and if you identify errors that you want to correct then complete the research request form which is provided with your Equifax Business Credit Report. Simply fill out the form and submit it via fax or mail to initiate an investigation.
Corporate Experian
You can order your business file at Smart Business Reports and once you locate any items that you want to dispute call Corporate Experian at 888-808-8242. The dispute process with them is simple and less time intensive then most people are led to believe.
So I encourage you to be diligent with monitoring your business credit files and use this business credit repair information to guide you through the process if you uncover any negative items in question.
To your business credit success!
Looking to rebuild your business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step by step business credit building system? A system that provides you access to premium vendors, business credit cards, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
About the Author
Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. A corporate credit builder membership helping business owners build small business credit. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.
April 20th, 2010 at 1:19 am
Business Reports are must specially concerned about building business credit history. It is like a resume for your investors.
April 21st, 2010 at 7:47 am
Exactly! Appreciate the feedback and always great to hear from you.
April 27th, 2010 at 6:11 pm
I enjoy coming back daily to see your informative posts. I have your page bookmarked on my favorite read list!
May 2nd, 2010 at 1:49 pm
Thanks for the feedback and great to have you as a reader.
July 6th, 2010 at 9:55 am
I have a flower business and my business credit is not great. I had no idea how to get credit repair help for my business. Thanks to this article, I can now try to get something done.
July 6th, 2010 at 10:23 am
Thanks Nicole and glad the information was helpful to you.
All the best,
Marco
July 16th, 2010 at 9:14 pm
I currently have poor credit due to some old credit card bills. I need a car badly, so I’ve been learning about buy here pay here dealerships. Thanks for the info!
July 17th, 2010 at 2:20 pm
Your welcome Dorethea, you may also want to check http://www.ucan2credit.com for personal credit restoration. I have been using this service for my clients for over ten years.
All the best,
Maco
July 26th, 2010 at 12:50 pm
I’m so glad to have found your web page. My pal mentioned it to me before, yet never got around to checking it out until now. I must express, I’m floored. I really enjoyed reading through your posts and will absolutely be back to get more.
August 23rd, 2010 at 7:08 pm
I currently have poor credit due to some old credit card bills. I need a car badly, so I’ve been learning about similar info. Thanks for the info!
August 25th, 2010 at 1:10 pm
Hi Altetha! You may want to check out http://www.ucan2credit.com for credit restoration. Have any questions
let me know.
Best of success!
Marco
November 15th, 2010 at 12:42 pm
Very objective content. Thanks for that, I’ll subscribe to your post! I am interested, contact me here please.
November 15th, 2010 at 6:59 pm
Thank you for the feedback Matthew. Will send you an email to touch base.
All the best,
Marco
November 18th, 2010 at 7:27 am
I usually don’t post on too many another blogs, still I just have to say thank you for these helpful credit repair tips… keep up the amazing work.
November 20th, 2010 at 6:16 pm
My credit history is a little sketchy with a few bad months of late credit card payments. I am afraid my potential having bad credit will keep myself and roommates from renting.
November 20th, 2010 at 7:51 pm
Hi Andera,
You can always work to rebuild your credit history. Check out my post regarding consumer credit repair. There’s also ways to raise your credit scores by using companies that grant personal lines of credit.
All the best,
Marco