Just because a debt is not on your CR, does that mean it won't be found?

[danny4l]

When I had my surgery several years ago, I was seen by many doctors and I accumulated many bills.  Some went to collections, some were written off, and some are outstanding but not being reported.

In a few months, I will be paying off the last collection account from my CR as I was told the account will be removed from my report once paid in full.  So at that time, I will have no more negative accounts other than the late payments from my student loans.

I still have several medical offices that send me an outstanding bill in the mail from services in 2010.  These bills were never reported to the credit agencies and they are not on my report. 

Will anybody every find out about them when I try to apply for a mortgage or some other big loan?

[RobertEG]

If they simply ask if you have any old, unpaid delinquent debt, you have an obligation to be forthcoming.

Even if they should not ask, if you are in the middle of an app process and an old creditor reports, it could be a show-stopper.

You can choose to rely upon either non-reporting or credit report exclusion of adverse information to shield knowledge, but at your peril.

[Shogun]

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@RobertEG wrote:

If they simply ask if you have any old, unpaid delinquent debt, you have an obligation to be forthcoming.

Even if they should not ask, if you are in the middle of an app process and an old creditor reports, it could be a show-stopper.

You can choose to rely upon either non-reporting or credit report exclusion of adverse information to shield knowledge, but at your peril.

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+1

And CAs have a nasty tendency to pop up during the mortgage process.

[danny4l]

My next question is after the seven years, the outstanding debt really is not an issue anymore right?  Because they cannot report it to the CB's.

[ktm214]

It is an issue because it is not paid. However it will not be reported. From what I understand, if you apply for a mortgage over $150k, they MAY do a manual pull and see that unpaid collection.

[danny4l]

What is a manual pull?

If the debt from a doctor's office is not reported, how can they find it?

[guiness56]

Outstanding debt is always an issue.  It may not be reported on your CR or you cannot be sued because the SOL in your state has expired but, the CA can continue collection activity forever.

And yes, when applyng for a mortgage, no matter the amount, you are obligated to disclose unpaid debt.  If the amount is $150,000 or more the lender has the option to request your entire credit file which may show the debt.

[guiness56]

You would be surprised as to what may pop up on your reports when applying for a mortgage.  It seems they come out of the woodwork.

It isn't a manual pull.  The lenders can request your entire credit history, it is rare but they can.

[danny4l]

"entire credit file"

What is that?

I thought your CR from the three bureaus is your entire credit file?

[guiness56]

No, that is your credit report which some still refer to as your file.

When something is excluded for age it does not simply disappear, never to be seen again.  Everything you have ever had, creditwise, is kept in your credit file.