Hi, I'm interested in trading stocks, foreign currency, and precious metals and am wondering if such activity will appear on my credit report? I just reviewed my credit report and my credit card accounts expire in March of 2008 (I'm hoping my pulling the report on the same month that they expire won't spur them into action against me before the end of the month?). Any information would be appreciated. Thanks!
Investment activity is not reported on CR's. Are you saying your credit cards are in default? If so, creditors have other means to determine your assets (including investments) than looking at CR's. Generally, when screening for potential lawsuits.
Brokerage Considerations Raised by Old Debt Try to open accounts with brokerages that will only pull a soft inquiry for purposes of know-your-customer compliance (they'll want a hard if you're going to have margin privileges), and of course if you fund the account from any of your own bank accounts, a subpoena (post-judgment, so this is both speculative and a long way off) directed to your bank would disclose who your broker is (assuming you were either uncooperative or unavailable to provide post-judgment discovery to the creditor out of your own mouth).
Brokerage accounts do not report to CRAs, unless you default on a margin account. A "margin" account is a form of credit; hence they may do a "pull" to assess your creditworthiness. Brokerage accounts do report to the IRS though, through 1099 forms.
Yes, I forgot to mention that if judgments are handed down against you then you may have your income tax records subpoenaed and if that happens then the creditor will know where your brokerage accounts are.
