Credit reports note your bill-paying history, positive and negative. A R9 rating is one of the most negative credit entries that can exist on your report, according to the Equifax credit reporting bureau.
Basic Definition
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.
Considerations
One or more R9 ratings on your credit report may make it difficult to get a credit card or be approved for an apartment.
Time Frame
Late payments, unpaid accounts, and Chapter 13 bankruptcy-related R9 ratings report for seven years. A Chapter 7 bankruptcy R9 will remain on your file for 10 years.
Moving Forward
Paying all future bills on time will eventually boost your credit rating. You also may need to explain to future potential lenders any special circumstances, including job loss, that led to an R9.
Staying Informed
Check your credit reports at least once a year to ensure the information is correct, whether or not a R9 is involved. See Resources for a link to getting your annual free credit report.
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