What is the difference between credit repair and business credit repair? These are very different. Credit Repair can be done to fix bad credit, but business credit repair is used for things like adding new clients, opening a new business, or adding new products to the menu. While you can get help with credit repair from credit restoration companies, most of them do not do business credit repair. You have to find the information yourself.
The Fair Credit Reporting Act outlines citizens rights to dispute bad information on their credit report. However, it is important to realize that this law does NOT cover business credit repair. You never know who pulled your business credit report, what reporting agencies they pulled it from, or what the cause of the error is. If it was someone who gained unauthorized access to your business, that is a situation that you will have to deal with on your own. That is the true purpose of this guide.
So, how can business owners protect themselves when it comes to credit scores and errors? Simple, really. Businesses and many small business owners don’t have an extra set of eyes watching over their credit history and it’s important that they have a way to check it themselves. This is where an online business credit repair service
comes in. Here at 007 credit repair, we offer the following tips:
Experian and Equifax are the two credit bureaus that Experian owns and is one of the largest credit monitoring companies in the world. They also have Trans Union. You can go directly to Experian’s website to request a free credit monitoring report. This is the only way to be able to view your Experian credit history and it’s important that you always look for updates on your Experian file.
When it comes to filing a dispute, there are several different routes you can take. One option is to go through the different business credit reporting agencies and contact them individually. They will notify you of any errors you notice, then they will attempt to fix the errors for you. While this process may not take you very long, if you are dealing with damaged business credit reports, you could get hit with a cease and desist order. This would severely damage your ability to get any type of financial assistance from any credit lenders while they investigate your claims.
The second route that can be taken is to check out the online resource for the three business credit reporting agencies. By having an account with each reporting agency, you will be able to get the updates from each one as well as to send them any disputes that you find. This is a great alternative to hiring a service who will come out to your place of business to dispute things. While this method will not remove any negative items from your report, it will allow you to keep a watchful eye on your accounts and send any information you have in dispute to the reporting bureaus. Disputing your accounts will give you a sense of control over your business finances.
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