I just spoke with Mr. Cooke regarding my husband's accounts. He agreed to R4 ratings if the accounts were paid in full (Total of $1600.00). The accounts are currently charged off. In the past, he reaged my two accounts to show R1 will full payment, but says he's unable to do the same with hubby's. We really want to finance a car and move to a new apt by June of this year. Is this a good deal? Would you take the offer? Advice needed. Thanks.
Does a charge-off offer any better rating than a R4? Is the R4 rating 30, 60, 90 or 120 days late? It's still negative. But if I had to take the lessor of the 2 evils I would opt for the R4. Maybe in the future you'll be able to get a goodwill adjustment. Unless what he's currently offering you is considered a goodwill.
IMO, R4 won't look as bad as a charged off acct. I think that is about the worst mark excluding bk. How long has the acct been charged off?
Does a charge-off offer any better rating than a R4? Is the R4 rating 30, 60, 90 or 120 days late? It's still negative. But if I had to take the lessor of the 2 evils I would opt for the R4. Maybe in the future you'll be able to get a goodwill adjustment. Unless what he's currently offering you is considered a goodwill *********************** Hi rhaeny, An R4 represents 90 days past due. He wouldn't budge from that offer. He initially offered R5 but I said No Way.
IMO, R4 won't look as bad as a charged off acct. I think that is about the worst mark excluding bk. How long has the acct been charged off? ************************* cfand3boyz, The account has been charged off for about a year. We've had no luck getting it removed. We're trying to get financing on a car and no-one will touch us right now.
Well based on the R4 rating of 90 days, you should take it. Especially since its been a year being charged-off. Take the deal, wait some time, dispute it. Btw, check out your scores now and then wait for the new rating to appear to see how much your score goes up or down.
