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jamescgerhold

Negative items on business credit

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I guess my main question is how long do negative items remain on business credit? Mine are over 1 year old now.

 

 I was afraid I would have to dissolve the corporation since it seemed as if I ruined the business credit.  The corporation is 18 months old and the 2 items are probably almost that old(~15 months).  

 

What is the best way to deal with negative items?

 

Is paying collections a bad idea in the same way as with personal credit? 

 

Thanks! 

 

James 

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On 11/23/2018 at 8:49 PM, jamescgerhold said:

I guess my main question is how long do negative items remain on business credit? Mine are over 1 year old now.

 

 I was afraid I would have to dissolve the corporation since it seemed as if I ruined the business credit.  The corporation is 18 months old and the 2 items are probably almost that old(~15 months).  

 

What is the best way to deal with negative items?

 

Is paying collections a bad idea in the same way as with personal credit? 

 

Thanks! 

 

James 

Business credit is treated pretty much the same as personal. The biggest thing that matters on business credit is that you’re making payments on time and are ip to date. If you’ve been up to date on every account for the past 90-120 days, then you’re good to go. 

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I'm in a similar situation with one negative on my experian business report. The account is 5 years old. Its an AT&T business phone that I had and didn't pay. I called AT&T and they said they dont show an account and gave me the collection company number. I called the collection company and they couldnt find the account. They told me they needed my social. I didnt give to them. I disputed it with experian. Hopefully they can take it off or give me more info on the account so I can pay it because its less than $200.

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