Exceptions To The 7 Year Statute Of Limitation
25 July 2008There are some exceptions to the seven year statute of limitation. I am informing you about main three exceptions. First exception is credit information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit. Your mortgage lender or insurance agent can access older, negative information about your payment history but they rarely do. Second exception is credit information reported in response to an application for a job with a salary of more than $75,000 has no time limit. This means that a prospective employer can be given a copy of your credit report that discloses negative information older than seven years; however, this is rarely done. And the third exception is Information about criminal convictions may be reported without any time limitation.
Tags: credit report
