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Help: Being charged interest on a loan for which I received no statements telling me of this debt for the past 15 years. Surprise!
Investigate the statute of limitations in your area.  15 years sounds like in most places it is past the allowable time a debt collector can legally collect or report it on your credit report. The statute of limitations means you still owe the debt, but they collector can no longer use the court system to collect it from you.  They can file a lawsuit, they will just lose.  Please read up on how to handle yourself with a debt that is past the SoL, so that you don't accidentally reset the clock. What I don't know for sure is how that applies to a business, and I cannot remember ever hearing a difference between personal vs business debt, but it is best to consult a lawyer regarding it. References: