I have already talked about if you should use a shelf corporation to build business credit, in an article I wrote back in August. I went
through the various merits, disadvantages and costs. I although talked about the different type of shelf corporations available, and briefly went through a short comparison of these corporations.
With this article I will like to go into a little more detail into the topic of Defaulted Corporations and using them as a Shelf Corporation to build business credit.
It should be no news to any of you that acquiring a defaulted corporation is something that many people have been doing to acquire affordable shelf corporations. There are even some Shelf Corporation vendors that are acquiring these corporations for $100 and reselling them for thousands. The truth is, this topic is sought of “hush hush” in the business credit community because of how powerful this knowledge is, and how much bad can be done with the knowledge.
What is a Dissolved or Defaulted Corporation?
A dissolved corporation simply means a corporation that has been deliberately closed or shut down. These corporations are not the ones that we are talking about when trying to acquire a cheap shelf corporation. A defaulted corporation is a corporate entity that has been late on paying its fees to the Secretary of State, and in most cases, the state reports the company to be inactive or Administratedly Dissolved(on their respective websites). These are the corporations that we are looking to and sifting through, to find a Shelf Corporation that fits our needs.
Is this a Good Solution to Acquiring a Shelf Corporation?
The truth is, if this is DONE RIGHT, it is an excellent solution to acquiring a Shelf Corporation at an extremely reduced cost. I have acquired these corporations and it drastically sped up the process in building business credit. These corporations can be of age, they can have established credit(although it is very difficult to transfer them with credit now) and they are much cheaper than the convention shelf corporations. I have had much success acquiring corporations for as little as $100, and built tens of thousands of dollars in credit with these corporations within weeks.
So if these Shelf Corporations are so great What’s the Catch?
The truth is, these corporations need to be acquired properly.
1. You need to check the SOS to ensure that they have not been in default for a very long time.
2. You need to pull the DnB and Experian files to check for any outstanding debt, juedgements or leans on the Corporation, and I show you how to do this for free in Shelf Corp Magic.
3. You need to contact the previous owners to ensure that they sign off the corporation to you. Many people skip this step but doing this is simply Fraud. I also talk about this process and provide the necessary information in Shelf Corp Magic.
4. If you do not acquire these corporations in the right manner, DnB tends to Flag them.
So How do I acquire these Corporations?
Acquiring these corporations is a process that can take a very short time if you know what you are doing. I have outlined the entire process in a Step by Step guide called Shelf Corp Magic. This outlines everything you need to know to acquire these corporations for around $100 and start building credit. For those of you who simply do not have the time to do it yourself, or prefer to have a professional do it, I have added that to my Business Credit Coaching program. You pay me $199 per month to build your business credit and in the first month I go through the process of acquiring a shelf corporation for you. This is the cheapest solution to acquiring a Shelf Corporation that I have seen on the internet without having to do any work yourself. There is no minimum time that you have to stay with me to build your business credit.
Marc Augustine
Good info. Hey Marc I still have not received the Shelf Corp E-book. It’s been a couple of weeks since we made the agreement.