EDIT: Had just responded back to latest blast.....I see you had to cut that last comment; just as well.
@Anonymous wrote:
a. What is the difference in treatment between a business entity and a personal individual credit report?Answer-- the most notable difference is that multiple late payments or collections fewer than 5 in a 24 month period do NOTHING to lower a business credit score-
REALLY?!? So all my hard work, 100% Graphically recorded monthly payment history reporting to the business bureaus, and watching my business scores go up is for nothing? You're saying my scores will stay high even if I were to have multiple late payments and could even kick in a collection or two and it would do nothing to hurt my business credit scores/report? Hmmmmmm, something's amiss here.
And though some of my tl's only report to the business bureaus due to No Personal Guarantee; the Personal Guarantee's do report to my personal. As well as to the other Stock Holders reports and even to personal reports of those possessing a business credit card. ie. Cap1 SPARK also reports to employee personal credit reports.
Now don't you try changing your name or SSN-- that's criminal fraud--but for a corporation-- bankruptcy is just part of the cost of doing business.
The thief living down the hall is personally accountable for his bad debts and late payments, the corporation-- not a bit accountable. Uh....I am personally accountable.
Which kind of Business Entity are you referring too? We're S-Corp.
locked for moderator review
