From the course: Credit Secrets for Entrepreneurs

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Monitor your credit

Monitor your credit

From the course: Credit Secrets for Entrepreneurs

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Monitor your credit

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- There was a story on NBC News recently about an attorney who was a victim of both personal and business identity theft at the same time. He actually had to shut down his law practice for 30 days to try to deal with the repercussions. Business identity theft is a growing problem. I was at a conference last fall when a sole proprietor, whose been a freelance writer for many years, came up to me and shared her story about how someone had opened a business credit card in the name of her business. She found out about it when her relatives started getting calls about a delinquent bill. Consumer credit debt collectors can't call your relatives to tell them you've been late on a payment. However, with business credit, there's no regulation. She didn't find out until the bill had gone several months delinquent. So monitoring your credit, even if you don't think you're going to borrow in the near future is essential for business…

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