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Can I report payments made on someone else's credit file? |
I have purchased a few properties, fixed them up and resold them holding the note. Can I report on the payment records, two of these people had bad credit histories, but have perfect payment records to me. It depends on if you are going to report their payment behaviors. Basically, you are just a lien holder on personal loans. Selfishly saying, why do you want to get into this masses? Are they friends of yours? I think you have to be a legit business to report. You can provide statements to prove their payment history however if they have bad credit ratings it may not help as they will be since as a high risk normally bad credit rating is an automatic decline regardless of supporting documents. Nope! |
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