It’s still not impossible to bring the dream to light. A bad credit history does not mean they took your birthday away. It just means you have some repair work to do. Before you even start looking for the merchant account servicer, you have a few things to get done. Start at the beginning and hunt down what has gone wrong.
1. Call the credit bureaus, or just go online. Get a copy of your credit report and find out who says you owe them money.
2. Verify they are the ones that you do owe money too. Sometimes erroneous businesses will seek money that is not from you, and they get the social security number wrong. Go through the steps and be certain they belong to you.
3. Step by step contact those that you owe and make payment arrangements. If you can, pay them off all together. You need these cleaned up, or at the very least showing you are paying.
4. Follow through with your plan and follow the credit agency. Meaning, as you pay the bills, be sure that the business that ruined your reputation, is also reporting a positive payment history into your credit statements as well.
5. After you have done this, begin searching for your merchant account servicer. This way, you can positively state truthfully that your credit woes are on a positive track.
6. Once you have found who you want to do business with, take the time to go over your credit with them if they are worried about your track record.
7. Negotiate and feel good about your merchant account. You don’t want to be blinded by anything that you are unsure about. Cover all your bases and know that you are getting the best deal for you and your business.
If you can do any of these steps, your business will be on the right track from the start. It will help you out with your bad credit merchant account, and it begins a healthy business relationship. Not to mention you start off on the right foot to learning how to stay on track.
We all know things can happen in life that we didn’t expect at all and following the program above is easy, although not always the least embarrassing thing to have to do. But, if you do them, your business will be healthier over all.
Don’t pin yourself down to the ground when it comes to credit issues. A lot of people just roll over and give up. It’s way simpler than that. You have co-signers that can help when needed. You can plead your case and most of all; show your business in the positive light. Give the bank or creditor or the merchant account servicer, something else to look at. Do not dwell on the negative, because that gives too much to things of the past. You want them to see the future and the good things you are doing with your business. Good luck!!!