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#2220273 - 08/22/19 08:02 PM Reporting Ag/Business Purpose Loans
MainStreeter Offline
Member
Joined: Jun 2014
Posts: 58
I’m hoping for some guidance on whether or not an Ag or Business purpose loan in the name of an individual should be reported to the borrower’s consumer credit report. Does the fact that the individual is liable for the debt make it reportable to the consumer bureaus? Or does the loan purpose dictate whether or not the debt is reported?

I've reached out to CDIA for feedback but am hoping to get the thoughts from others as well.

Thanks

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#2220290 - 08/23/19 12:11 AM Re: Reporting Ag/Business Purpose Loans MainStreeter
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,220
Galveston, TX
You can report or not report. There is no Federal requirement that you report any loans. If you report one however, you have to report them all.
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