cancel
Showing results for 
Search instead for 
Did you mean: 

High cash flow DBA operating under SSN- with no reporting?

New Visitor

High cash flow DBA operating under SSN- with no reporting?

Hey FICO- first time poster.

 

A little background- I have been in the commercial law field for EVER. Everything from legal collections, to running cases for Fortune Magazine top ranked firms. I have done it all- and every single dollar I have made has come as the result of some kind of credit default. With that said- we were a cahs only family for many, many years.

 

My previous business processed ACH's through our business account set up with DBA's. We paid a 3rd party to run credit card bills (Ammex and PaySimple more recently). We paid cell phones bills to T-Mobile. Everything in our business was pay up front. Further more- if your un aware, banks and payment processors LOATH working with collection companies and have NEVER extended terms...

 

I say all of that to say this- If we operated as a DBA, and only used our SSN's on the papers, why are those business expenses NOT on our personal credit?

(I am alsmost thinking our SSN's were more for identity verification than anything else)

 

 

 

Message 1 of 3
2 REPLIES
Epic Contributor

Re: High cash flow DBA operating under SSN- with no reporting?

What would be on your report... doesn't sound like you have business credit cards just cell phones and credit card processing (merchant accounts)

cell phones personal or business don't report.

 

Message 2 of 3
Regular Contributor

Re: High cash flow DBA operating under SSN- with no reporting?

Credit Card processing doesn't report. I have a DBA and I have a separate EIN for all my business transactions. 

Starting Scores: September 2015 minus 500 across the board
Current Scores: October 2017 EQ: 715 TU: 710 EX: 716
In My Wallet:
Cap1 QS: $4.8K - AMEX BCP: $4.2K - Old Navy Visa: $7K - Nordstrom $3.8K - VS $500 (FTW!)
BofA AU: $12K AMEX AU: $25K
Business: AMEX BCP $15K
Message 3 of 3