CRA Reporting...How To?

[yoyoma51]

This is completely hypothetical.

Let us say that I borrow money from a friend, relative, etc.

This money may be secured or unsecured. For a car, furniture, vacation, whatever.

I sign a legal contract agreeing to pay the money back on monthly payments. My friend, relative, etc. wants to report this loan to one or all of the CRA's.

Does anyone know how they could do this (report to CRA's)? I looked on the CRA's websites and couldn't really find any info. Is it even possible?

Perhaps there is a website or thread someone could point me to?

Thanks heaps!

[lrprn]

Here's a mention in a financial column that private loans like you are suggesting generally won't be reported - http://www.kiplinger.com/columns/ask...2007/q0715.htm