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Should I start over?

Member

Should I start over?

Hello! I'm wondering if I should create a new LLC to build new business credit. My current company has been open for 2 years but due to lack of funds It took a dive over the winter time. I have been trying to dispute payments but they get put back on the next month.

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Message 1 of 5
4 REPLIES
Super Contributor

Re: Should I start over?


@jfrazie7 wrote:

Hello! I'm wondering if I should create a new LLC to build new business credit. My current company has been open for 2 years but due to lack of funds It took a dive over the winter time. I have been trying to dispute payments but they get put back on the next month.

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I'm impressed that you know so much about your business credit; I've been in business for years and wouldn't have a clue as to how to find the report you posted.

 

IMHO you should just stick with it.

 

1. I don't think you're doing so bad.

 

2. Just because your business's credit isn't perfect isn't a reason to fold the business.

 

3. Just because your business's credit isn't perfect doesn't mean you'll never be able to get more credit.

 

4. Age is important. The longer you stay in business, the better.

 

5. Even if you couldn't get credit -- which is not the case -- that would not be a reason to fold the business.

 

 



FICO8 EQ 759 TU 795 EX 760 Total revolving limits 669800 (559800 reporting)
Message 2 of 5
Epic Contributor

Re: Should I start over?

What report is this?

Message 3 of 5
Valued Member

Re: Should I start over?

That's a Dunn & Bradstreet Report

Starting Score: 567
Current Score: 735
Goal Score: 760


Take the myFICO Fitness Challenge
Message 4 of 5
Epic Contributor

Re: Should I start over?


@DapprD wrote:

That's a Dunn & Bradstreet Report


I feel like few creditors use D&B.

Most are pulling Business Experian or EQ.

Message 5 of 5