| By :
Marco Carbajo
In today's tough 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 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 derogatory marks that are 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 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 the majority of 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.
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