The Credit Repair Process

The Credit Repair Process

What is a Net 30 account? A Net 30 account is an account with a company (vendor) that will allow you to defer payments for 30 days for products and services your business needs. Business Credit Repair sets you up with Net 30 vendors that report your “tradeline” to Dun and Bradstreet, Experian, and Small Business Equifax. This will automatically activate your business’s file. You have 30 days to make your payment, but Business Credit Repair will instruct you to pay 15, or even 20 days, ahead of the due date. This action will put your company in better standing so your credit report improves as fast as possible. You must consistently use these accounts on a monthly basis to build an effective business credit history. Business Credit Repair will be with you every step of the way to ensure you understand the credit building process and eliminate common mistakes.

Once your credit reflects that you consistently pay your bills early, you prove to lending institutions that your business is stable and a good candidate for a business loan. Once you obtain this credit-worthiness, you have just taken a very important step in separating your personal credit and your personal assets from that of your company.

With this separation, should catastrophic events occur and result in company bankruptcy, the liabilities remain with the company and your personal assets are not involved in the business dealings. You maintain your personal wealth, despite the success or failure of the business.

Credit repair and credit building can give you tremendous freedoms with your business if done properly.