Wells Fargo Charge Off / R9?? no lates

[cmcgreanor]

I know this is not a credit reporting forum but this is related to a short sale. Since Wells Fargo is saying that my HELOC is going to be reported as "Charge Off" and I am not late on the account will the R9 notation be reported as well. The R9 note on the tradeline would seem to be the worst part of the charge off. From what I have read R9 states a charge off but is more then 6 months delinquent. Is there a tradeline of just "charge off" without the R9 associated with it?

Thanks

[cmcgreanor]

So I called Wells Fargo back at the executive office and they said the R9 code is obsolete. That the credit reporting agencies will make the decision on how to report the account based on the status of the account... Never late/or delinquent, short sale, charged to P/L. Here is an excerpt from the FCRA..

In general

. A person who furnishes information to a consumer reporting
agency regarding a delinquent account being placed for collection, charged to
profit or loss, or subjected to any similar action shall, not later than 90 days
after furnishing the information, notify the agency of the date of delinquency
on the account, which shall be the month and year of the commencement of

the delinquency on the account that immediately preceded the action.

It sounds as if you are not delinquent the credit bureaus are going to have a interesting choice to make. Here is another...

(1)

In general. The 7-year period referred to in paragraphs (4) and (6) 3 of subsection (a)
shall begin, with respect to any delinquent account that is placed for collection
(internally or by referral to a third party, whichever is earlier), charged to profit and
loss, or subjected to any similar action, upon the expiration of the 180-day period
beginning on the date of the commencement of the delinquency which immediately

preceded the collection activity, charge to profit and loss, or similar action.

I have never been delinquent. SO for anyone else out there that is concerned about a HELOC being charged off in credit reporting terms and you have not been delinquent for 180 days or more it seems the charge off code can not be applied to the account. I will dispute this if mine shows that way.

[cmcgreanor]

Here is another...

Rule of construction.

For purposes of this paragraph only, and provided that
the consumer does not dispute the information, a person that furnishes information
on a delinquent account that is placed for collection, charged for profit

or loss, or subjected to any similar action, complies with this paragraph, if–

No delinquent= something other then charge off on Credit
180 days delinquent = can be charge off