Status Codes
Introduction
There are several codes that carry their own meaning on an account. When combined they give an even clearer meaning on the state of the account. For example, on their own, A is for an active account, and D is for a delinquent account. Together as A/D means the account is active and delinquent. The meanings reflect our interpretation of typical account status reported by the various subscribers. This varies from company to company.
PD: Pending Deletion.
Accounts that should not be on the system. These accounts are all unrated and in the process of being removed from the system.
A:Active Account.
Accounts that show payment and/or billing activity, and that have not yet expired; Accounts that have not yet been transferred to History; Expired Accounts on which payments are being made directly to subscribers (not through debt collectors).
I: Inactive Account.
Expired and paid off accounts / Accounts transferred to History/ Accounts transferred to debt collectors.
C: Current Account.
No arrears (Accounts where the arrears are less than one month). Paid off accounts. This would include any paid off and settled judgment which has been recorded in our database.
D: Delinquent Account.
Currently in arrears (Accounts where the arrears are more than one month)/ Written off accounts/ Sued with Judgment Outstanding.
Q :Questioned Account.
Accounts that are being questioned by consumers or where the Credit Rating is being disputed.
VS: Voluntary Surrender
Accounts where consumers have voluntarily returned and given up possession of items purchased on credit.
RS: Repossessed or Surrendered.
Accounts where goods have been voluntarily returned or have been repossessed. Please contact us for more information.
RP: Repossessed Account.
Accounts where Items have been repossessed or which have been assigned to a bailiff for repossession.
CT: Court Action Taken.
Accounts on which court action is currently being taken or has previously been taken.
Credit Rating Codes
Introduction
The following ratings and descriptions are only guidelines used by our subscribers to rate and interpret how the credit was serviced. A rating of 1 indicates the best rating, 9 the worst, and 5 or 6 the gray areas. A rating of 0 indicates that either the subscriber did not provide any rating information, or that the rating information supplied was ambiguous. Meaning is just a description of the type of activity subscribers have had with customers who fall into a particular rating. Follow up activity varies from company to company.
0
Unrated -No valid credit rating information received from subscribers.
1
Excellent account-Always paid on time. Never in arrears
2
Excellent account – Usually paid on or before time.
May sometimes fall into 0-30 day arrears category.
May sometimes fall into 0-30 day arrears category.
3
Good account – Usually paid on time.Sometimes in small arrears. Customer may skip a month but will catch up in a subsequent month. Arrears not greater than 31-60 days.
4
Fairly good account – Account is sometimes more than two months in arrears but not more than three months in arrears. Account will probably be completely paid within 60-90 days of the expiry date.
5
Fair account – The account is being paid.Follow up calls, letters and/or visits may have been used to get paid. Despite occasional arrears of 91-120 days customer would more than likely get credit again. Account will probably paid within 90-120 days of expiry.
6
Poorly paid account – Customer ignores the standard letters and telephone calls. Bailiffs, in-house debt collectors or other follow up action may have been required to get paid. Account will probably be paid 120 or more days past the expiry date.
7
Very bad account – Have had to use bailiff(s), collection agency or Attorney-at-Law to get paid.
8
Terrible account- Court action was taken or is being taken.
9
Uncollectable Account – Account written off with no hope of collection. May have obtained judgment but still not being paid. Customer may have skipped jurisdiction or can’t be found.