R9 to R5 Is this Better?

Discussion in 'Credit Talk' started by dm4x, Oct 29, 2001.

  1. dm4x

    dm4x Active Member

    I got a creditor promise to change my settled charge off account from an R9 rating to R5. It will take a few days for the changes to reflect my CRs, so they say.

    But what will that do to my credit rating? Will it push up my FICO score quite considerably? Or is an R5 just as bad as an R9. They refused to delete it!

    Any comments?
  2. mother2

    mother2 Well-Known Member

    I had a paid student loan changed from R9 to R5. I don't know if it had any positive impact on my score, but I would think that any rating other than R9 is better.
    Sorry I couldn't be much more help. But don't worry, the other experts on this board will answer your question.
  3. Cadillac408

    Cadillac408 Well-Known Member

    I5 means that it's a paid collection. I9 means that it's a chargeoff (paid or not). I would rather have an I5 than an I9 but as far as your score is concerned, I don't think it will help you.
  4. jmart

    jmart Well-Known Member

    R5 does not mean a paid collection. R5 means 'Unrated', which is more of a neutral rating. R5 is MUCH MUCH better than an R9. While you should always strive for an R1 (positive) or deletion of the account, R5 (neutral) is much better than an R9 (major derog).

  5. Quixote

    Quixote Well-Known Member

    Just for the record: That last post on this thread was the 100,000th post on CreditNet. Woo Hoo!
  6. jmart

    jmart Well-Known Member

    Thank you...thank you very much.. What do I win? =)


    BTW, how can you tell it was post 100000?
  7. Quixote

    Quixote Well-Known Member

    Sorry. No prize. I just happened to be logging in right then (to lurk a bit and see if it's safe to hang out around here again, but that's another subject)and saw that the post counter was at 99,997 on this board, so I hit Refresh a few times until it changed to 100,000, then looked to see which thread was at the top and which post was at the end of that thread. Voila. You win the non-existent prize.
  8. Cadillac408

    Cadillac408 Well-Known Member

    It saddens me to read this sort of stuff. Please don't feel threatened by anyone or anything here. I know there have been some issues going on lately but the bottom line is that if you are having a problem with someone, you can block them out by clicking on 'account' then 'ignore' and adding them to your list. You will not be able to see any of their posts.

    We are here to help each other. Don't let someone or something spoil it for you. Also, PBM is here for you as well.

  9. Quixote

    Quixote Well-Known Member

    I just got a little burned out on all the flemthrowing (I misspelled that at first, started to correct it, and decided to let it stand). I'll still be coming around, but not as often as I was. Maybe that's a good thing. Maybe I was part of the problem.
  10. Quixote

    Quixote Well-Known Member

    Sorry I got your thread off subject. So, in payment, directly from an Equifax Correspondence:"R = Revolving; 5 = Pays or paid 120+ days past the due date; or collection account"

    Doesn't sound like much of an improvement from R9 to me. Keep fighting it.
  11. keltexx

    keltexx Well-Known Member

    To the original poster

    Are you negotiating by phone w/ these people? I wouldn't budge until I had documentation in my hand that explicitly states what you have agreed to-from them. Also, I would find out if paying this will re-age this account, thus restarting the clock. I would get that in writing too. Before paying anything.
  12. dm4x

    dm4x Active Member

    Re: To the original poster

    No I am not negotiating by phone. They were responding to my PFB note I sent to them the other day. This is an account I settled long before I discovered "credit repair". It is paid up! Oh well
  13. KHM

    KHM Well-Known Member

    Is PBM like the Great Oz?
  14. lbrown59

    lbrown59 Well-Known Member

    Don't pay till they delete.
    With me they will delete or forget the money.
    They can have one or the other but not both:
  15. Andrew

    Andrew Well-Known Member

    I agree...they want their money, you want the account gone from your reports. Make 'em work for you.

Share This Page