Business credit showing up on personal card

[Anonymous]

I co-signed for a business(not mine), which failed and all the late payments are showing up on my report. I never received any statements and the business owner was responsible for the payments, which he did not make. Is there any way, I can get these removed from my personal credit report? I heard that we can add notes to personal credit reports. Will adding a note (explaining the reasons for the missed payments) help? Any suggestions?

Thanks

[Uborrow-Upay]

Unfortunately, the business owner was not the only one responsible for the payments, if you co-signed.  And a lot of business credit never reports to personal credit, unless there is a default.   As a co-signer, you would never have received any statements, unless you were also actively involved in the business.  But it's a pretty sure bet that you'll be receiving collection notices for the co-signed accounts.

I don't believe you'll be able to get these removed from your personal reports without payment, at least.  I hope someone else here can advise further on that, perhaps in another of the boards on this site.

I'm not so sure that a note on your report will help you much.  

Good luck with this, I wish you the best. 

[Creditaddict]

true, you co-signed and it would not show up on credit until it went about 90 days past due and now it will report on personal credit unless you bring the account current again.

[Anonymous]

Thank you. Once my accounts become current, will they automatically remove from my personal credit report.

[Creditaddict]

I would think they would stop reporting it late, but not sure the lates that are there would be deleted, you may be stuck with those but talk nice to the creditor and you never know