Ein and DBA problem?

Discussion in 'Business Operations' started by soloscaperman, Oct 31, 2008.

  1. soloscaperman

    soloscaperman LawnSite Gold Member
    Posts: 3,045

    Will this be affected from not paying a $680 cell phone bill? I really don't care about my personal credit now. Will it affect my score if I want to get a new truck or Mower?
     
  2. IN2MOWN

    IN2MOWN LawnSite Platinum Member
    Posts: 4,993



    Your EIN has nothing to do with credit and a DBA is just a way your business is set up for tax purposes.

    If you do not pay the bill it will probably go to collections which in turn will affect your score.
     
  3. dapiccolawn

    dapiccolawn LawnSite Member
    Posts: 16


    Actually your EIN(Employer Identification Number) does have to do with your credit, or business credit rather depending on how you're set up. If your business is incorporated, llc. whatever an EIN is like having a social security number. DBA(Doing Business As) just has to do with your legal operating name.

    Either way: One of your scores will be affected. Wether or not it is personal or business credit score is up to how you have things setup. And what the cell phone was opened under.

    -Dave
     
  4. IN2MOWN

    IN2MOWN LawnSite Platinum Member
    Posts: 4,993



    Right. I forgot about all that.

    I have to say though that this is the reason I have a dedicated land line that my customers call instead of a cell phone. A $680.00 bill is ridiculous. Never should of gotten that high.
     
  5. soloscaperman

    soloscaperman LawnSite Gold Member
    Posts: 3,045

    The cell phone is under my name not business. Didn't use my cell phone as a write off. Just started everything this year

    Just that I want a riding mower from Exmark and they ask for either your EIN or if you a homeowner.

    I know that if I sign it under homeowner exmark raises the warrranty but your chances are lower for getting an Exmark loan.

    With the EIN or DBA they ask for from Exmark I think they don't check your personal credit just your business credit, right???????????????????????????????
     
  6. CALandscapes

    CALandscapes LawnSite Senior Member
    Posts: 946

    Do you even have an EIN number?
     
  7. dapiccolawn

    dapiccolawn LawnSite Member
    Posts: 16


    Well it sounds like you are a Sole propreitor, not an incorporation right? That would be the determaining factor if they check business credit as opposed to personal credit I would imagine.-??

    I would imagine it's always a good habit to pay your bills either way. And also an exmark is going to cost a heck of a lot more than that cell phone bill.

    Good luck with the financing.
    -Dave
     
  8. CNYScapes

    CNYScapes LawnSite Senior Member
    Posts: 917

    Just a little bit of advice, PAY THE BILL. I know you said you are not worried about your personal credit right now, but you will at some point. And you will regret that unpaid phone bill. Forget about any more credit cards, auto loans or mortgages.
     
  9. CLARK LAWN

    CLARK LAWN LawnSite Silver Member
    Posts: 2,526

    being that this is your first year i doubt you have enough business credit yet so they will look at your personal credit. like CNY said PAY THE BILL if nothing else it will get you a lower intrest rate on the loan. If your going to be in this for the long haul you will need to have good credit. i buy all me equipment on 12-18 months same as cash and have it fully paid off be thew time its due. if your going to get new equipment might as well use there money for a while.
     
  10. johnslandscaping

    johnslandscaping LawnSite Member
    Posts: 190

    I would pay the bill even if you have to make smaller payments to get it paid. This will help you in the long run. everyone at some point in time makes mistakes. Keeping a good credit standing is important. even more now than in past years with banks making loans harder to get due to so many people not paying on them.
     

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