🏽The Fair Credit Reporting Act outlines consumer’s rights to dispute inaccurate information on their credit reports. But it’s essential to know that this law does NOT apply to business credit repair. There are currently no laws which outline business owners’ rights regarding credit disputing. The FCRA also requires credit issuers to notify you of what bureaus they pulled your credit data from to determine your denial for financing. In the business credit world this is not the case, you rarely ever know the source that pulled your business credit or which reporting agencies they pulled it with.
However,If you see accounts or details you don’t recognize or you feel are inaccurate, request a debt validation for that account using a debt validation letter. Solicit the creditor for verification of the account details they are reporting. 🏽The FCRA and the fair debt collections practices act apply to consumer debts, not business debts. So you can send a debt validation letter, but the creditor is not required by law to respond to your dispute. - 2 hours ago