Personal or business credit reports may contain discrepancies.

For example, sometimes personal credit reports show outstanding student loans for amounts already settled or a late payment fee for a bill that was received after the due date. If you’re relocating your business, keep track of your utility, medical and credit card bills which accrue large late fees if they get lost in the shuffle. All situations lower the individuals score and should be immediately tended to. Personal credit adjustments can take anywhere from two to four months.

Likewise, small business owners should track their business credit report on Dun & Bradstreet (D&B) to check for inaccuracies in the business description, supplier payment history or existing liens on the business. Because D&B reports are self-reporting they frequently contain wrong information. Adverse remarks can affect a business’s ability to procure capital or contracts from the government or large institutions.