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What does "unrated or bankruptcy" mean in current status section of CR?

New Contributor

What does "unrated or bankruptcy" mean in current status section of CR?

I have several student loans listed as BANKRUPTCY OR UNRATED in "current status" section of TU report. I have never filed for bankruptcy. They are all very old...back to early 1990 and have long since been consolidated/purchased by another lender. Is this negatively effecting my credit score? BTW, they were never in bad standing or late. History on them was great. Should I GW the lenders listed on TU? Message Edited by fn2bfit on 01-28-2008 10:16 PM

Message Edited by fn2bfit on 01-28-2008 10:16 PM
5 REPLIES
New Contributor

Re: What does "unrated or bankruptcy" mean in current status section of CR?

bump
Senior Contributor

Re: What does "unrated or bankruptcy" mean in current status section of CR?

This might help.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=70736#M70736
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus

Re: What does "unrated or bankruptcy" mean in current status section of CR?

See replies from Tuscani and fused in this thread:
 
 
ETA:  This is just the wording TU uses when they don't know the status.  I am very confident it does not hurt your score.  DFiancee has almost 20 accounts with this description on TU (all consolidated SLs), and her TU FICO is about 775.
 


Message Edited by cheddar on 01-28-2008 10:35 PM
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
New Contributor

Re: What does "unrated or bankruptcy" mean in current status section of CR?

Thanks everyone!
Moderator Emerita

Re: What does "unrated or bankruptcy" mean in current status section of CR?

It doesn't hurt your score, but it's possible that it would be questioned on a manual review. The good news is that TU shows consolidated SL's this way a lot, so many lenders are probably familiar with it. If it's questioned, I would just point out its status on the other two reports.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007