Archive for category Personal Credit Report
Does a business loan go on a personal credit report?
Posted by admin in Personal Credit Report on November 10, 2011
Question by Fatty: Does a business loan go on a personal credit report?
On any type of business financing, if I were to take out a loan in my name for the business (whether an aqusition loan or SBA or whatever) would it go on my credit report? This is assuming that I dont take the loan out under my business name, its on me.
Best answer:
Answer by Concerned F
A business lent that is guaranteed by you or that is unsecured but in your call will likely go on your credit report. Even if you put it in the business’s name (as long as it is not a corporation, LLC, or LLP where you are just a limited partner not the general partner), it will go on your credit report. Only corporations, LLC’s, and LLPs where you are not the general partner are separate business entities.If you are the general partner of a LLP, it will also go on your credit report (I presume so). I’d check that over with an attorney if you went through the steps of a GP, LLP, LLC, C Corporation, or S Corporation with an attorney.Off course, you have to remember that some lenders don’t report your information to a credit bureau unless the information is negative. I think that as long as it is not a separate business entity that it goes on your credit report, which is why a lot of people prefer to have the business as a S corporation. However, many lenders will require that you personally guarantee the loan even under the S Corporation umbrella due to the inability to find financing. A C Corporation (with its double taxation) is the best way to obtain equity financing.
What do you think? Answer below!
Consumer Financial Protection Efforts: Answers Needed (Part 1 of 2)
Posted by admin in Personal Credit Report on October 20, 2011
Consumer Financial Protection Efforts: Answers Needed (Part 1 of 2) – House Oversight – 2011-07-14 – House Committee on Oversight and Government Reform. Witnesses Elizabeth Warren, Assistant to the President, and Special Adviser to the Secretary of the Treasury. Video provided by US House of Representatives.
Video Rating: 3 / 5
Why does the credit report website say that i cant see my personal credit report online?
Posted by admin in Personal Credit Report on October 4, 2011
Question by Lydia M: Why does the credit report website say that i cant see my personal credit report online?
I was on freecreditreport.com and it tells me that I cant see my report I need some help here thanks.
Best answer:
Answer by BigMissle
A few concluded could have brought on this occurrence:1) Already viewed it within the last 365 calendar days2) Name, address, telephone don’t match what they have on file.3) Their database had trouble processing your request, as this can happen when alot of server bespoken are being processed simultaneously.
Add your own answer in the comments!
Credit Report Repair Company Shares Facts about Credit Card Industry
Posted by admin in Personal Credit Report on October 1, 2011
Credit Report Repair Company Shares Facts about Credit Card Industry
(PRWEB) March 16, 2005
Lee Harrison Credit Restoration, recently named the top business and website in the credit report repair industry by Alexander HaigÂs World Business Review, has shared some of the little-known facts behind credit card interest rates with the public.
According to Lee Harrison, Founder and President of Lee Harrison Credit Restoration, there is no such thing as Âfixed ratted when it comes to credit cards.
ÂBasically, credit card companies can write their own rules, said Harrison. ÂCredit card issuers can change their interest ratesÂeven fixed ratesÂat any point, as long as they send cardholders advance written notice. And if a cardholder makes just one late payment, the issuer can automatically increase their interest rate.Â
According to Consumer ActionÂs 2004 survey of credit card issuers, 31 percent of issuers will levy a penalty rate after one late payment, while more than 35 percent said that two late payments in a period of six months will trigger a penalty rate. The average penalty rate for late payments: 22.9 percent.
ÂBut paying your credit card bill on time still isnÂt enough, stating Harrison. ÂNearly half of all credit card issuers have an universal default policy, and they donÂt completely disclose this in the fine print. What this cosmopolitan default policy means is that paying your mortgage late could trigger a penalty rate on your credit card.Â
Credit cards tinning cause a decline in over 30 percent of a personÂs overall credit score. Lee Harrison Credit Restoration offers credit report repair services to individuals who find Âslow pays or former inaccurate files on their credit report, and will continue to keep their credit reports in good order for life.
About Lee Harrison Credit Restoration
Lee Harrison Credit Restoration is a fully licensed, registered, and bonded credit service organization located in Naples, Texas. The company has specialized in helping people repair and restore their credit history due to bankruptcy, bad credit, or identity theft for over 29 years.
To see more information about the Fair Credit Reporting Act and consumer rights, visit http://www.LHCreditRepair.com.
# # #
Press Release Authoring and Marketing by Xeal Precision Marketing
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
NationalCreditReport.com Informs Consumers That Their Credit Report Can Affect Their Employment
Posted by admin in Personal Credit Report on September 30, 2011
NationalCreditReport.com Informs Consumers That Their Credit Report Can Affect Their Employment
Delray Beach, FL (PRWEB) May 28, 2010
NationalCreditReport.com, a leader in credit monitoring services, advises consumers that in addition to potential creditors and lenders, even employers have a reason to look at your credit report.
“At a time when many people are looking for work, consumers are surprised to learn how many employers are obtaining their personal credit report before making hiring decisions,” said Samuel S. Ambrose, Vice President of Marketing and Operations for NationalCreditReport.com. “They’ve asked us ‘can my employer run my credit report’ and they answer is ‘yes, both prospective and current employers can access your credit report if you provide your authorization.’”
According to Ambrose, employers and potential employers complying with the Fair Credit Reporting Act (FCRA) can obtain your personal credit report.
“Employers figure that the manner in which you manage your finances may be a good sign of how you’ll do your job. Therefore credit report damage goes a lot further than just finances. Unfortunately, this is a tough time for our job market and people who have found themselves out of work might also have fallen behind in payments to creditors, thus causing credit report damage and a lower credit score.”
NationalCreditReport.com advises job seekers to obtain their personal credit report at the onset of their job search and review it thoroughly so they know what personal information and potential credit report damage others can see in your credit file when they are making an important hiring decision.”
About NationalCreditReport.com
Since 2004, NationalCreditReport.com has specialized in rendering credit information and credit supervise services to consumers to help them understand their impute report and score. NationalCreditReport.com encourages consumers to check their credit report on a regular basis.
Contact:
Allison Tomek
NationalCreditReport.com
561-805-8000
###
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Find More Personal Credit Report Press Releases
Can LLC debts go on my personal credit report?
Posted by admin in Personal Credit Report on September 13, 2011
Question by Dan J: Can LLC debts go on my personal credit report?
My LLC went under, but stills owes money on a credit card machine lease that hasn’t been paid on in months. I opened the account before there was a tax ID, so they used my SS#. Can they affect my personal credit or am I protected by the LLC?
Best answer:
Answer by stephbrown2005
It depend. Did you run your LLC under your social or the EIN of the business? Limited Liability Company just meant if someone sued you that they couldn’t take your home and everything you have because of the business. If you used the business EIN then you’re safe…if not, of traversing it’s going on your credit report it’s the number you gave them to report too..
Know better? Leave your own answer in the comments!