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Hidden Debt

Discussion in 'Credit Talk' started by roadkill, Sep 29, 2002.

  1. Sep 29, 2002 #1
    roadkill

    roadkill Member

    Is it true that you can hide debt, if so, how?
     
  3. Sep 29, 2002 #2
    DISPUTER

    DISPUTER Well-Known Member

    Hide Debt???? I don't know about hiding it. You can get inaccurate negative information removed from your credit reports, but that doesn't release you from any responsibilty of paying a debt.
     
  4. Sep 29, 2002 #3
    roadkill

    roadkill Member

    No, I thought I had read something about you could hide some of your credit card debt through Amex Business Card.
     
  5. Sep 29, 2002 #4
    tnobles

    tnobles Well-Known Member

    American ex. bs. does not report to your credit report so if you have debt on that instead of on personal cards your debt will be 'hidden'
     
  6. Sep 29, 2002 #5
    roadkill

    roadkill Member

    Thank you! I have Amex Bus and wanted to transfer one of my balances to up my credit score.
     
  7. Sep 29, 2002 #6
    KHM

    KHM Well-Known Member

    You know this is a good question....

    Who offers CC's and LOC's that don't report ie Hidden Debt???
     
  8. Sep 29, 2002 #7
    LKH

    LKH Well-Known Member

    Generations Bank
     
  9. Sep 29, 2002 #8
    GEORGE

    GEORGE Well-Known Member

    "HIDDEN DEBT" is NOT reported to 1 or 2 or all 3 CRA'S...(so basically it does NOT exist)...THIS DOES NOT MEAN YOU DON'T OWE IT OR YOU DON'T HAVE TO PAY IT!!!
     
  10. Sep 30, 2002 #9
    creditwork

    creditwork Well-Known Member

    George is correct. Business debt will not show in your personal report, but don't ignore it on your calculations. It is a good way to move personal debt off your file and to get bigger and less expensive lines.

    www.creditsense.com
     

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