Not paying your bills on time … 100% of the time

You misplaced your credit card bill and sent in payment a few days late. It happens to the best of us, right? Maybe so … but as an entrepreneur, you can’t afford even a single late payment.

Your credit file is a complete history of your credit activity. Not paying your bills on time can ruin your credit file.  A single delinquency can be held against you for years and be used to constrict the extension of existing credit or deny new credit – which can make or break your ability to finance the launch, operation or growth of your company.

There are two things you should do to protect yourself from this critical mistake. The first, obviously, is to ensure that you pay your bills promptly. Second, keep your personal credit separate from your corporate credit.  That way, problems with your personal credit history will have no bearing on your corporate credit. But if you do not take all the necessary steps to separate your corporate and personal credit, problems with your personal credit file could directly affect your ability to build your corporate credit and your business.

The System for Building Business Credit

If you need help incorporating or building good business credit, click here for a complimentary business credit consultation and to obtain our free e-Book, "Unlimited Business Financing – Without a Personal Guarantee” – a step-by-step process for building a business credit asset.