Can I do this? - Posted by Angel

Posted by JohnBoy on August 19, 2004 at 17:54:40:

Unlikely. Even if you form an LLC your LLC will have no credit history and lenders will want a personal guarantee which means they will use your personal credit. You would need to establish the LLC for a number of years and show a strong credit history for the LLC before a lender would consider allowing it to be used without a personal guarantee. You can rebuild your personal credit faster than you could probably build a strong enough credit history for the LLC before a lender would consider allowing the LLC as the primary borrower without a personal guarantee.

Can I do this? - Posted by Angel

Posted by Angel on August 18, 2004 at 23:17:18:

Hi all,

I had an idea the other night and was wondering if it’s feasible. I have bad credit (foreclosure from two years ago). Can I disguise my credit history by forming an LLC in order to buy property?

Thoughts and/or ideas anyone?

Thanks,
Angel