Business debt could hurt personal credit reports

As a result of the current economic downturn, many small businesses have taken on debt in order to finance their operations, or have had shut their doors altogether through bankruptcy.

Many small business owners have opted to use personal credit cards to finance their operations, as other loans have become scarce. As a result, this debt could end up on credit reports and leave them with a need to repair bad credit.

Whether it's a missed payment or something as serious as a long-term delinquency, a negative mark can severely impact a credit score. Small business owners who need credit score help due to long-standing cash flow problems at their company may benefit by contacting a credit repair attorney.

This is because many of these reports may contain improper information, such as an incorrect purchase total or a wrongfully attributed late payment. In addition, consumers who try to fight these charges on their own may find this dispute process could take months.

However, by contacting a credit lawyer, consumers may be able to speed-up the process and get their personal and business finances back in order.