Corporate credit rating
I wonder if someone would give me a reality check:
I spoke with a company in Nevada who say that they will form a coporation for me and build the credit rating up within six months. Then, they claim, I would not have to personally guarantee my property purchases and the corporation can take mortgages directly without my name associated at all.
Is this too good to be true, or is this for real?
Quote:
On 2003-04-06 16:02, wilds wrote:
I wonder if someone would give me a reality check:
I spoke with a company in Nevada who say that they will form a coporation for me and build the credit rating up within six months. Then, they claim, I would not have to personally guarantee my property purchases and the corporation can take mortgages directly without my name associated at all.
Is this too good to be true, or is this for real?
Yep. The lender is going to look at the assets that the corporation owns and the amount of time it has been in business (i.e., it looks at the corporate tax returns to see what amount of profit the business has been making). It seems to me the incorporator was feeding you some sales pitch without knowing what they were talking about.
Taxjunkie
Thanks Taxjunkie,
That is exactly what it was, a sales pitch. Forwarned is forarmed...
Omg, I think I spoke to that same Nevada company. I am so glad you wrote about it.
My suspicions have been confirmed.