Once the business is approved, the data needs to be in the right format. The Metro 2 Format is the standard format used by all four bureaus for accepting data into their consumer credit database. One company that offers data conversion to this format and assistance signing up with the credit bureaus is Datalinx, LLC. Their website is http://www.datalinxllc.com.

The last step is to test the newly created data file with the credit bureaus. Their testing process usually takes 2-4 weeks and covers both the integrity of the file (how well you followed Metro 2 guidelines) as well as the integrity of the data (how well you adhered to federal laws including the FCRA).

Because of the involvement of the application process, you can see why very few small businesses actually report information to the credit bureaus. If you wanted to report someone to the credit bureaus because they didn’t pay you, the best way is to turn them over to a collection agency. All collection agencies report to the credit bureaus – it’s one of the tools in their arsenal to get you to pay.

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