Answer:
Refer to the Metro2 Guidelines - you do not report minors. 99% of the time, they are not legally obligated on the loan under State law, regardless of whether you allowed them to sign the loan documents.
Credit Reporting Loans to Minors
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Question:
We have a vehicle loan to a minor with the father as a co-signer. They are wanting the minor on the loan to help build their credit. Are we allowed to report to the credit bureaus for the minor? If so, are we allowed to report negative info?
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