I found out that someone had opened a company factoring account what are company factoring accounts Someone opened a company factoring account and used my name what can I do it is on credit report as a bad debt.

Hello s:

Start to track it down. Call up the people who put the mark on your credit report.

excon

It sounds like a company you did business with may have sold your debt to another company at a "factor of the value you owed"

That would be the factoring company. They may have purchased your debt from another source. If you have any unpaid balances of any sort that might be the reason for it appearing on your credit report. You would not have needed to open the account directly with the factoring company.

It may not be your debt at all as errors happen frequently so follow the other advice and inquire as to the source of the debt reported by the company against you on the report.