Is it okay to report (manually) individual co-borrowers on a large (past-due) commercial loan to the credit bureaus? We have 6 individuals that signed personally for a large loan that is now past due.

Please, someone reply!

Isn't it awful to post & get no response!!

Why do you think it would be a problem to report these individuals to the credit bureau? They are personally obligated & the promised payments are not being made and that is what you will report. Seems fitting to me -

There may be conflicting opinions on this. Do you report all such loans, or are you singling out this one loan?

If you report all such loans I don't see a problem, but if you don't how do you justify reporting just this one specific past due loan?

Thanks dpersfull for your response and I think I see your point. If I did report this loan and it is an exception to my routine practice I risk repercussions because I have discriminated against these delinquent borrowers, right?

That's my thought process. Especially if there are protected classes gurarnteeing the loan.

Have a look at this thread . Cowboy Fan has some interesting information! If the bureaus are stripping off this info, then we shouldn't even worry about it!

I saw it but do not know how to link to a thread. Anyway, Anon is not worried about it but wants to report co-borrowers and having served time in collections, so do I!

If they are just guarantors they are not in default until you have properly called the guarantees and they have not fulfilled their guarantee obligations.

If they are co-borrowers, I would make sure each one personally knew about the default before reporting them - that might get your payments back on track.