Quote:
Originally posted by EscortBiz
I understand that you would hope its over but its not, laws are laws and the fact is if you didnt sign as a co-signer yes people can call to try to collect but they cannot report you to the 3 personal credit bureaus.
Your name will show up if they do a D&B or other places where they can file but not with the 3 credit reporting agencies.
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Clarify "co-signer" for me. He wants to get a loan to open the other two businesses...so how does he/the corporation get the loan without him signing for the loan. After all some one has to sign for the loan. Or are you saying that he personally cannot gaurantee the loan in the form of co-signing for the corporation...which in turn would make him personally liable for the loan if the coporation fails.