2006-06-26 08:22:32 · 3 answers · asked by concerned 1 in Business & Finance ➔ Credit
"Key Derogatory" means they want to rate you as "chargeoff" but they can't because they're missing some bit of information in the file. For example, you stop paying your bills, move and leave no forwarding address. The creditor may have a good idea where you live now (perhaps the post office sent them your new address) but they've not actually heard it from you. So you become a key derogatory instead of a chargeoff because they can't confirm your new mailing address.
2006-06-26 08:32:14 · answer #1 · answered by dcgirl 7 · 0⤊ 0⤋
derogatory means bad credit, slow credit, however I haven't heard the term key with it.
2006-06-26 15:26:04 · answer #2 · answered by DollyLama 5 · 0⤊ 0⤋
Normally, a "key" account are: Mortgage, Rent, or auto loans. They are usually over $3,000 lines. These are the main accounts. Secondary accounts are smaller accounts such as credit cards, utility bills, cable bills.
2006-06-26 19:33:55 · answer #3 · answered by robert w 2 · 0⤊ 0⤋