Stochastic unravelings are a widely used tool to solve open quantum system dynamics, in which the exact solution is obtained via an average over a stochastic process on the set of pure quantum states. Recently, the generalized rate operator unraveling formalism was derived, allowing not only for the engineering of stochastic realizations, but also to unravel without reverse jumps even for some dynamics in which P-divisibility is violated, thus greatly improving the simulation efficiency. This is possible because the unraveling depends on an arbitrary nonlinear transformation which can incorporate the memory effects. In this work, a stochastic Schr & ouml;dinger equation for this formalism is derived, both for the cases with and without reverse jumps. It is also shown that a failure of this method can be used to witness master equations leading to unphysical time evolutions, independently of the particular nonlinear transformation considered.