Have Errors on Your Business Credit Report?

8. February 2012

While the Fair Credit Reporting Act (FCRA) was put in please to protect consumers from unfair credit reporting, currently there are no laws protecting business owners as well.


When you identify inaccurate, erroneous, and obsolete entries on your personal credit reports and bring it to the credit reporting agency’s attention they must do one of two things by law. Correct it or delete it! The credit bureaus must investigate all disputes and respond to you within a reasonable time period which is around 30 days.


But what happens when you uncover incorrect, outdated, or misleading information on your company’s credit reports? Is there a specific process you should follow? What steps do you need to take to initiate a dispute with the business credit agency?


It is important to consistently monitor your files since you are the only one policing them and ensuring that the data being reported is in fact accurate.The following information will help provide you with the necessary steps required to correct and/or dispute information with each of the major business credit agencies.


Dun & Bradstreet


You have two options for initiating a dispute with DNB. You can contact them at 888-814-1435 or submit an online dispute.  


Before you can initiate an investigation online you will need to register with iUpdate at https://iupdate.dnb.com/iUpdate/mainlaunchpage.htm. Once you verify your company information and complete your registration you will be able to log in and view your company credit file. Through iUpdate you can submit an online dispute and request an investigation.


Small Business Equifax


If your company has a profile listed with Equifax you can get a copy by calling them and supplying the member (business) name of a supplier or creditor that will be pulling your 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 Equifax Small Business 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. Fill out the form and submit it via fax or mail to initiate an investigation.


Business Experian


You can initiate a dispute by contacting Business Experian at 888-808-8242. Be diligent in monitoring your corporate credit files and use this information to guide you through the process if you uncover any derogatory items.

Business Credit Reports