Experienced Accountant Crashed And Learns The Hard Way About business Credit

When I started my first two businesses, I didnt understand how stupid it was not to use a tax ID number to fund my business. I used my own social security number instead. I drove my FICO scores into the toilet because of the credit card balances I was carrying which showed on my personal credit reports as personal debts instead of business debts. My debt-to-income ratio was so bad that even if I knew how to apply for business lines of credit, or business loans, I couldnt because of my poor credit. I thought only big businesses could get credit. I paid dearly for this mistaken knowledge.
For many years my poor credit scores cost me with high interest rates on my car insurance and my credit card finance charges. This stress was so great at times that I just wanted to cry and just give up my dream of having a successful business I could call mine. I finally got out there and learned from books, seminars and credit repair programs exactly what I did wrong.
Ive now got a separate legal entity for all of my businesses and each has its own tax identification number from the IRS. I also have a business VISA credit card that has a balance that does not go on my personal credit report. I have separate business checking accounts and I never mix personal expenses with business expenses.
Ive worked very hard at cleaning up negative entries on my personal credit reports so that now when I start a new business venture if I have to give a personal guarantee I know that my high credit scores will greatly improve my chances of getting the lines of credit for business.
This knowledge came from a long and tedious learning process. I know that many other people are trying to get their dream business going and I know from personal experience that all this information is not readily available in one place or from one source, so I decided to help.
Ive written an e-Book that gives step-by-step instructions on how to register the name of your business, how to register it correctly with the State and how to make your business present itself to the business world as established so a vendor or lending institution looks at your company and finds everything they need to approve your application. Ive taken all of the date Ive collected through the years and created a concise format that anyone can follow. I know theres work to be done to get your business off the ground, but Ive got the tools to help you start out on the right path to success without risking your personal creditworthiness.
Basics of Business credit is the name of my e-Book. You can find out more about it and the bonuses that Im giving away for free on my website: http://www.susansbooks.com. When you order my e-Book you will get a Free Credit Restoration Guide with 13 sample letters you can use to clean up the negative entries on your credit reports. Dont wait any longer to get your dream business going. Act now.

About the Author:
Susan Carter, author of Basics of Business Credit, has created an e-Book that provides instructions on how to set up a business entity correctly from the start. She has the knowledge to help anyone avoid the trap of having to use personal funds and assets to get their business started

Article Originally Published On: http://www.articlesnatch.com

Tags: Deadly Business Mistakes

, Great Deal

, correct Business

, Business Structure

, Corporate Credit

, Business Credit

, Monitor Your Credit

, money for payroll

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