From the course: Credit Secrets for Entrepreneurs
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Bankruptcy, tax liens, or judgments
From the course: Credit Secrets for Entrepreneurs
Bankruptcy, tax liens, or judgments
- A business bankruptcy can appear on your business credit report. It's not a deal-breaker necessarily when it comes to getting financing, but if it's not completed, then it will likely hinder your business's ability to get financing in the future. Business credit reports only list business bankruptcies, not personal bankruptcies. Tax liens or judgments. Recent changes in consumer credit reporting have led to these no longer appearing on most consumer credit reports. So if you had a tax leader judgment for you personally on your consumer credit report, it's probably not there anymore, but nothing has changed with regard to business tax liens or judgments. So if your business owes taxes to a state, federal, or local taxing authority, there could be a tax lien that appears on your business credit report indicating that you owe them money. Similarly, if you owe a judgment, this means your business was sued, and it…
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