Posted on: 13th Apr, 2011 05:35 am
Is there a way to remove a Corporation's commercial mortgage from a personal credit report? My corporation took out a commercial mortgage for a property with myself as a guarantor. I've had this mortgage for about 6 years and just recently it showed up on my credit report. There wasn't any late or defaulted payments. What can I do to get it removed. Having a 6 digit debt on my credit is not a good thing.
Hi mikelee223,
Welcome to Mortgage fit,
Mainly lenders report all the credit related information to the credit bureau.So you need to either call or send an email to the lender explaining the whole situation.If your lender is convinced he/she will make it sure that henceforth he/she will report about your commerical organisation's credit report to credit bureau and not yours as an individual...
Feel free to ask any further query if you have....
DIPA
Welcome to Mortgage fit,
Mainly lenders report all the credit related information to the credit bureau.So you need to either call or send an email to the lender explaining the whole situation.If your lender is convinced he/she will make it sure that henceforth he/she will report about your commerical organisation's credit report to credit bureau and not yours as an individual...
Feel free to ask any further query if you have....
DIPA
Mikelee I would think that they'd not be predisposed to eliminate the reporting. After all, your personal guarantee is on the loan, so the reporting is factual.
On the other hand, based on what you've said about the performance on the loan, I'd have to think that any lender considering your for credit would be able to deal with the fact that your corporation is making payments. After all, you're probably required to provide corporate tax returns when borrowing, n'est-ce pas?
On the other hand, based on what you've said about the performance on the loan, I'd have to think that any lender considering your for credit would be able to deal with the fact that your corporation is making payments. After all, you're probably required to provide corporate tax returns when borrowing, n'est-ce pas?
