Hello, My Equifax report shows a couple of accounts that I've now paid and the tradeline reflects a zero balance but still indicates a STATUS:R5 or R9 R5 = 120+ days late R9 = charged off Shouldn't the "status" change to something like "no longer late?" I can't image they'd give it an R1, "pays as agreed never late." The next is R2, "30 days late" which doesn't fit either. Any suggestions?
An account status can change from month to month say from an R3 back to an R1 once the account is paid up. However, once an account charges off its stuck at R9. As for the R5's they are worse than an R9. It makes it appear if the account is currently 120+ past due. Major score killer. The best way to handle these TL's is to let the lender verify them a couple times, then send an ITS if they don't delete.
That would explain why my score went from a 611 to 579 overnight. One of the accounts was updated to a zero balance but they changed the R9 to R5. My first thought was R5 would be better than R9. So, I thought it was because the report date changed from 4/98 to 5/03, even though the last activity didn't change. Since R9 never changes, maybe I can take advantage and have the R5 upgraded, say R1? Is it worth having R5 changed to R9, probably not if its suppose to never change?
Dixi You stated, "The best way to handle these TL's is to let the lender verify them a couple times, then send an ITS if they don't delete." I've been sending dispute letters to the credit bureaus, is this the same as having the lender verify? Sorry, what is ITS? Thank you much for the help
I can attest, that although on one level it doesn't make sense R9 is BETTER than R5. When Crap One finally took DH out of R5 purgatory, and switched to R9 his score jumped 40 points - go figure. Either one is bad - I don't know if I would recommend trying to change the R status to 9, but this worked for me on another account - "Please explain how I am 120 days past due on a -0- balance account. It worked one time - it was changed to R1, now it only has some old lates.
