Equifax just told me that two of my accounts are going to be changed from I9s to I5s. What will this mean exactly? And will this still be considered derogs?
Re: I5 or I9, what's the difference Equifax assigns a "Status" to tradelines which appears as either O, I or R followed by a number. "O" refers to an "Open" account where the entire loan balance is due at a specific time. "I" stands for "Installment" as in car loans, mortgages, and other loans with a fixed initial principal and a preplanned payment schedule of equal payments. "R" stands for "Revolving" which of course refers to credit cards, charge cards, lines of credit, bank signature loans, and the like. Equifax then attaches a number to the I or R. So, for example, you may see an "R1" next to your Searscard account. Or you might notice an "I2" next to your mortgage tradeline. Here's what the numbers stand for: 0 -- too new to rate 1 -- paid as agreed 2 -- 30 days late 3 -- 60 days late 4 -- 90 days late 5 -- 120 or more days late or collection account 7 -- account in deferred plan (counseling/consolidation program, etc.) 8 -- repossession 9 -- charged-off to bad debt Hope this helps. Doc
Re: I5 or I9, what's the difference Thanks. What could be my next step now to getting these removed. I disputed them through CRA as not mine. And when I talked to them today, they said that the OCs would update as just I5.
Re: I5 or I9, what's the difference I have the same problem with Sallie Mae it went from I9 to I5, I want it to go away
Re: I5 or I9, what's the difference kbanger, did you notice a difference in your scores when the change came about?
Re: I5 or I9, what's the difference S217--- It will not update until the 10th, I will let everyone know how my score does. I hope to be in the 600 club after my first round of disputes. I have alot of collections coming off. I know it will help my equifax, as for the other screws we will see
