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CRA Report - is this possible
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Posted by Gettingworsenotbetter
(65.70.79.224) on May 12, 2004 at 22:24:36:
I owned my own business for about 5 years an used credit cards for some purchases.......long story short business failed, had CC debt, some in the business name and some in my name with my signature as personal garantee.........some are on my credit report and I understand why. One just showed up this month from Textron Financial......it was a line of credit sent to my business in the form of checks with a balance limit of $35K......I never signed, filled out an application or anything........just got it in the mail and used it...........it was in the business name....my SSN was never used to get the line of credit or anything. Last payment was made in Oct. of 2002.........have experienced all the collection attempts from them and the CA who has bought the debt. All of a sudden this week it shows up on my Credit Report as being 120 past due.........when actually it has been 1 1/2 years since the last payment. Can they do this ? Is this legal ? What happens if I contest it with the CRA ?
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