@Anonymous wrote:
A creditor to report to the CRA's? Do they have to pay each month to have a closed derog sit on your report for 7 years? Or do they just pay each time they update?
My understanding is that it costs them to place the item initially. It costs them to update the item, or remove the item. But I do not believe there is any cost incurred by the item just sitting and aging, I.E, the "reported" date does not change.
