Can a OC change the status code at any time they deem fit. Example: I have an account that opened 1/95 and went to chargeoff 4/97. I started to dispute this account back in Feb 02. At that time they had it listed as an R-5, but as soon as I disputed with them they changed it to a R-9. Can they do this? Appreciate the help.
R-9 status is a charged-off account. R-5 status is pays 120 + days late. So, if you truly were over four months past due, and stopped making payments, then yes, an OC can change the status.
