What do the codes mean on a credit report?
Credit Report Rating Codes
| Installment Account (fixed number of payments | Revolving or Option Account (Open-ended) | Meaning |
|---|---|---|
| I9 | R9 | Bad debt; placed for collection |
| IA | RA | Account is inactive |
| IB | RB | Lost or stolen card |
| IC | RC | Contact member for status |
What does a 9 mean on a credit report?
After that you receive a code “9” which means the account has gone to collections. If you see a code “B” this means there was a payment change and no other code is applicable. Each of the reporting companies uses a different code series.
What does full termination balance owing mean?
Balance Owing means the difference between all amounts that have been credited and all amounts that have been debited to your Loan Account at the time of the calculation.
What does account status mean on credit report?
Account Status: An indicator of whether a credit account is open or closed and your payment behavior at the time of the last update reported by the lender or creditor. The collection agency will then attempt to collect the debt from you, and the account will show on your credit reports as a collection account.
What does responsibility terminated mean on a credit report?
Re: Responsibility = Terminated? It means you are no longer an authorized user to the credit bureaus. The account will continue reporting but the credit limit is no longer added to your pot.
What is code 4 on credit report?
4 = 120 days past due date. 5 = 150 days past due date. 6 = 180 days or more past due date.
What does responsibility terminated mean on credit report?
What does pay status charged off mean?
Simply put, a charge-off means the lender or creditor has written the account off as a loss, and the account is closed to future charges. It may be sold to a debt buyer or transferred to a collection agency. So does that mean I don’t owe the debt any longer? No. You’re still legally obligated to pay the debt.
What does bad account status mean?
The creditor closes your account, which could be a personal loan, credit card, revolving charge account or another debt you’ve failed to pay as promised, and it’s charged off as a bad debt. If you make payments that are less than the monthly minimum amount due, your account can still be charged off as bad debt.
What does terminated responsibility mean?
It means you are no longer an authorized user to the credit bureaus. The account will continue reporting but the credit limit is no longer added to your pot.
