Anonymous Posted April 5, 2003 Report Share Posted April 5, 2003 I am part owner of a business that is looking at leasing some equiptment. all the leasing companies are requesting a personal guaranty because we are small and relatively new. Does signing a personal guarantee for a business loan or lease effect my personal credit? Will it show up as credit extended on my personal credit report?thank you,Corky [Edit by corkyrob on Saturday, April 5, 2003 @ 09:26 AM] Link to comment Share on other sites More sharing options...
wert Posted April 5, 2003 Report Share Posted April 5, 2003 From my experience of doing exactly the same thing, it never showed up on my personal report. I would think the only time it would might be if the business didn't pay for it, and you didn't personally either. Link to comment Share on other sites More sharing options...
Anonymous Posted April 5, 2003 Author Report Share Posted April 5, 2003 thank you, wert.but does anyone know for sure, are there any bank people or credit experts here that can verify?the information is very much appreciated,corkyrob Link to comment Share on other sites More sharing options...
kb9tbq Posted April 5, 2003 Report Share Posted April 5, 2003 It should not be reported on the personal credit report; but I can't say that it won't happen. Have seen it before; but just keep an eye out should they report on the consumer side. Would sure enough be disputing with them to fix the matter.Would ask the company; are they going to pull your personal credit report to determine approval? This will add inquiry on your credit report, affecting your credit score.And if they report; tell them ahead of time that they be mindful not to report under your name.Keep an eye on the billing; and make sure not to be late on the off chance they would collect from you. Should it go to collection they will surely report on the business side & your personal credit report side. Link to comment Share on other sites More sharing options...
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