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DH has a John Deere Financial loan of not very much reporting to his CRs so not sure what kind of equipment it is would have to check some files. It’s opened 2018. It’s a Farm Partnership loan so I don’t think it should be reporting to his CRs. DH is a 14% Partner. Should this loan be reporting to his CRs?
Sorry this is in bold, clicked “B” by accident in mobile and can’t figure out how to unclick.
<mod edit: Unbolded it for you >
Upon what basis do you believe that a Farm Partnership Loan is not reportable to a CRA?
If it is a joint account for which he has some personal financial obligation, that is likely sufficient to report to a consumer reporting agency.
@RobertEG wrote:Upon what basis do you believe that a Farm Partnership Loan is not reportable to a CRA?
If it is a joint account for which he has some personal financial obligation, that is likely sufficient to report to a consumer reporting agency.
I guess because none of the other Farm Partnership business loans are appearing on his credit report, just this one. And as far as I know he didn’t sign a personal guarantee for it, whereas he did for the operating line, which does not appear on his credit report Thank Heavens or his DTI would be like 8000% lol
Oh, and it’s not that I don’t think it would be reported to a CRA just that I assume that it should be reported to the Farm’s business credit report, like the Experian one.
OP, I always thought John Deere Finance was a hidden tradeline too. I've never had one, but from what I've read around these and other forums about how they do things. Did you have a late or some other ding as I think any negatives takes it out of hidden and shows them. How about let us know if you find out anything different. I was considering financing a tractor through them later in the year and the hidden tradeline was a huge plus, if they are no longer hiding them, then I may go a different route
@dynamicvb wrote:OP, I always thought John Deere Finance was a hidden tradeline too. I've never had one, but from what I've read around these and other forums about how they do things. Did you have a late or some other ding as I think any negatives takes it out of hidden and shows them. How about let us know if you find out anything different. I was considering financing a tractor through them later in the year and the hidden tradeline was a huge plus, if they are no longer hiding them, then I may go a different route
I don't think the OP is referencing the revolving tradeline. JDF offers a variety of different financial products besides the traditional revolving account, which currently doesn't report to the CRAs (unless delinquent).