3 replies to this topic

[80's guy in debt]

Ok So I have a account with capital 1 from 04 i defaulted in in 12/05 and became a paid collection in 05/06. i recently send cap1 a goodwill letter and asked to be removed since its being paid in full ( i belive the SOL on this account is 05/13 wich is next year. they responded with

Thanks for contacting us about your credit report. after researching your account,
We've updated your account as paid with an R9 rating,...

will this make an impact on my credit score or will it remain the same as paid collection??
PLEASE help with any info you might now regarding this. i began my credit repair journey 3 weeks ago so far i got 1 removed from CR. and the other pay for delete. im waiting on a few more hope fully this doesnt affect my score much.. thanks for all your help

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[distantarray]

Ok So I have a account with capital 1 from 04 i defaulted in in 12/05 and became a paid collection in 05/06. i recently send cap1 a goodwill letter and asked to be removed since its being paid in full ( i belive the SOL on this account is 05/13 wich is next year. they responded with

Thanks for contacting us about your credit report. after researching your account,
We've updated your account as paid with an R9 rating,...

will this make an impact on my credit score or will it remain the same as paid collection??
PLEASE help with any info you might now regarding this. i began my credit repair journey 3 weeks ago so far i got 1 removed from CR. and the other pay for delete. im waiting on a few more hope fully this doesnt affect my score much.. thanks for all your help

When an account on your credit report notes R9, it means that it is considered a "bad debt" whether it was not paid at all, paid consistently late or included in bankruptcy.

Not really good, I would try to disect the credit report to find inaccuracies for grounds to push deletion. also what state are you in

Edited by distantarray, 20 June 2012 - 06:28 PM.

[Art_Vandelay]

As Distantarray noted R-9 is NOT good at ALL. An example would be if it was reported as R-1, the 'R' designated as a "Revolving account" and the 1 meaning that you PAY ON-TIME and as scheduled. Basically PERFECT. It goes down from there. If you were to have maybe 1-30 day late in THE PAST year or so but are now paying on time it would probably be R-2.

If having a few 60 or 90 day lates but got caught up and paying on time again it would probably listed as R-5 and so on.

But as Distantarray said, an R-9 could mean multiple 120- days late, time and time again, could also mean that you've NOT paid etc. The Absolute WORSE designation that creditors can give you.

They didn't do you a favor. I would also do what distantarray suggested and find some sort of inaccuracies that they are reporting because you won't see any jump in your score with them listing your account as R-9.

The GOOD thing is that it's so old and should be falling off your report VERY soon depending on when you went in default and your last payment etc. But nevertheless it should probably be falling off fairly soon.

Good Luck and keep up the good fight:good: