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#34703 - 09/26/02 03:15 PM "Entitled" to Have Loan Reported?
SJB Offline
Diamond Poster
Joined: Jun 2002
Posts: 1,210
We have a customer complaining because his construction loans that have been paid off are not showing up on his credit report - at all. Plus, the loans were to a LLC but customer individualy guaranteed them and he wants them reported in his individual name as well. He claims he is "entitled" to have them reported. Due to system glitches none of our construction loans are being reported so it is not like we have singled him out.

This is a new one for me (like so much of compliance) - anyone else run into this?
My opinions are not legal advice and are worth what you paid for them.

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Lending Compliance
#34704 - 09/26/02 03:26 PM Re: "Entitled" to Have Loan Reported?
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 83,396
Galveston, TX
While banks have been "encouraged" to report consumer related transactions to credit bureaus, there is no requirement to do so. Especially on a commercial credit.
The opinions expressed here should not be construed to be those of my employer:

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