Question - Equifax report

Discussion in 'Credit Talk' started by S.D., Dec 19, 2000.

  1. S.D.

    S.D. Guest

    I just got my report updated by Equifax. The charge off is still on the report, but they added " account closed by consumer" underneath. Is this a plus for me or does it not make a difference if the account still has a $507 balance? Just wondering...
  2. roni

    roni Well-Known Member

    The big issue is if it is a charge off and reported as R9 (chargeoff). This takes a blow on your credit score making the other factors insignificant. No it doesnot help to add "account closed by consumer", if the account is marked as a charge off which means the creditor is taking a loss cause you defaulted on the credit agreement by not paying. The $507 balance reflects the amount you never paid. This will not slip past a future creditor or FICO. R9's hurt. I'm not saying you actually did all this. But this is what your credit report is saying at this moment.

  3. jamie

    jamie Well-Known Member

    Roni, If R9 is a charge off what is an I9,I1,I2,and I3 mean?
  4. Momof3

    Momof3 Well-Known Member

    I9 Installment charged off to bad debt
    I1 paid as agreed
    I2 30+ days past due
    I3 60= days past due

    O= open(entire balance due each month
    R= revolving accounts (credit cards)
    I= Installment (fixed number of payments)

    Hope this helps
  5. jamie

    jamie Well-Known Member

    Would a paid charge off be the same? I have 2-I2's and 1-I3 (all from '94) 2- I9's one is a duplicate. It was paid off in '96. Equifax supposedly verified both accounts, and still shows an open balance. NOT!!! So how bad is my report with these items?
  6. Momof3

    Momof3 Well-Known Member

    Yes paid/unpaid charge offs both show as I9 both our credit killers, your lates will hurt you but not as bad because they are from 94, recent lates hurt the most.
  7. jamie

    jamie Well-Known Member

    Thanks for your reply. I have written the creditor in hopes of getting this deleted. I have been disputing this for over 2 years. Maybe I'll get lucky. Besides that, they re-aged the darn thing.
  8. roni

    roni Well-Known Member

    well they can't reage anything. You should dispute the date of the account.


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