...that ours don't? I know that some collections do not show on the reports that we get. How long can a collection stay? Do they have a time limit like other debts?
Thanks for taking the time to answer my question I also was wondering why a collection would show on a mortgage company's report and not on my personal report?
The issue isn't so much as the TYPE of an account, as so much as how much the TYPICAL account that the potential creditor typically handles. If the typical creditor typically handles LARGE mortgages, then there is a possibility that their report will show some things which are OVER the 7 year period. Because reports for large limits, and/or major pay-level jobs are exempted from the reporting time limits. FACTA currently requires that the Federal Trade Commission study the benefits of forcing that the CRA provide us with the information which is in these exempted reports. (Along with a few other things.) So maybe by the next time they decide to modify the FCRA, they'll actually codify that we are entitled to see the exempted reports from the CRAs.
