Legal Question in Business Law in New Jersey
if default on corp loan, do proceeds appear on credit report
Chase bank will give me a loan on my corp. if i sign before end of month they will not make me sign
a personal guaranty. i have a house. the corp is a ''s'' corp.
if i default on loan can they put it on my credit report.
Asked on 4/23/08, 9:13 pm
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
Re: if default on corp loan, do proceeds appear on credit report
A default can be reported against the credit of anyone who is responsible for payment. If you are not personally responsible, it would be improper for anything to show up on your personal report.
See also: http://info.corbettlaw.net/lawguru.htm
Answered on 4/23/08, 10:45 pm
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